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|
Asset Type |
Transaction Date |
Size (Sqm) |
Value (USD) |
| Office | May 2021 | 69,503 | $576 million |
Buyer: Charter Hall Long WALE REIT (CLW)
Seller: AIP Asset Management
Services provided: Brokerage
Background
Colliers were appointed off-market to source capital for a portfolio of four office buildings on behalf of Korean fund managers, AIP Asset Management.
The portfolio – with Australian government as anchor tenant in each asset – offered a total net lettable area of 69,503sqm, and is located in the suburban areas of Canberra, Melbourne, Sydney and Albury, a regional NSW city.
The Strategy
Colliers presented the opportunity to potential buyers by focusing on the key selling features of the assets, which included:
- Secure and stable tenants including Commonwealth Government (ATO and Services Australia), Australian Red Cross and Ampol
- 75% leased to Commonwealth Government, a AAA investment grade credit rated tenant
- Portfolio WALE of 9.2 years with an attractive WARR of 3.6% p.a.
- Well located Eastern Seaboard properties diversified across NSW, ACT, QLD and VIC
- Properties support the provision of essential government services, life sciences and retail
- Modern, purpose-built properties
- Sustainable buildings all with ratings between 4.0-5.0 Stars for Green Star and NABERS Energy ratings
The Result
Colliers successfully transacted the Portfolio on behalf of AIP Asset Management.
The portfolio was acquired in an equal joint venture between Charter Hall Long WALE REIT (CLW) and three unlisted direct property funds managed by Charter Hall Direct.
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