Property Investment Giants Link Up On Joint Venture Worth $2.3 Billion (Business News Australia)
February 10, 2022 – Hong Kong-based Link Real Estate Investment Trust (Link REIT) has bought into a joint venture alongside Oxford Properties Group which consists of a prime office portfolio in Australia worth more than $2.3 billion.
Link will acquire a 49.9 per cent interest in the Investa Gateway Office (IGO) venture, while Oxford will own a 50.1 per cent interest.
Link dropped $596 million on its stake in the joint venture which will be managed by Investa – a leading owner, manager and developer of real estate in Australia.
IGO comprises five income-producing, prime grade office assets with focus a on sustainability including 126 Phillip Street, 388 George Street, 151 Clarence Street and 347 Kent Street all in Sydney and 567 Collins Street, Melbourne.
“IGO is one of the highest quality Australian office real estate portfolios to be offered to the market in recent years,” Link CEO George Hongchoy said.
“We are delighted to partner with two firms that have deep conviction and connections in the Australian market and further strengthen Link’s presence in the country.
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