Singaporean real estate giant CapitaLand has backed the recovery of the Melbourne office market, after acquiring one of the city’s major commercial offerings for more than $320 million.
The 22-storey office building at 120 Spencer Street, opposite Southern Cross Station, has been acquired by the CapitaLand Open End Real Estate Fund (COREF), a pan-Asian private equity fund launched last year and backed by global institutional investors.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
