Australia's newest commercial property player, the $31 billion Hong Kong-listed Link REIT has scooped up a prized Sydney CBD office tower from US private equity Blackstone for $683 million at a record tight net yield of 3.9 per cent.
Diversification was the main driver of the real estate investment trust's purchase of 100 Market Street, its first outside Hong Kong and mainland China.
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Su-Lin Tan reported on housing, commercial real estate and property finance. She also covered China and Asian business, trade and politics. Connect with Su-Lin on Twitter. Email Su-Lin at stan@afr.com.au
