Major Asian REIT Targets Premium Australian Real Estate (Australian Financial Review)

March 31, 2021 – Link REIT, which paid almost $700 million for a Sydney office building in late 2019, is back on the hunt for premium investment-grade Australian properties after signing an open-ended mandate with fund manager EG.

It is part of geographic diversification strategy for Link REIT, which is based in Hong Kong and has $33 billion in assets under management, all but two of which are located in Tier 1 Chinese cities.

One of them is an office tower at 100 Market Street, Sydney, that Link bought from Blackstone for $683 million 16 months ago and will be managed by EG as part of the mandate.

EG executive director Roger Parker said the agreement with Link was signed last week.

“It’s early days but the principle will be that we will be sourcing and filtering asset investment opportunities for Link in Australia and working with them to evaluate, price and then support their bid process,” said Mr Parker.

Read more here..

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