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Brookfield begins Chevron HQ after Invesco buys in

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US investment house Invesco will take a half stake in the $800 million headquarters of resources giant Chevron in Perth, which is being developed by Canadian property giant Brookfield.

While Invesco emerged as the preferred investor in the landmark project in May last year and began due diligence then, it was not until this week that the agreement was finally announced as construction got underway. Financial close on the investment, struck on around a 5 per cent yield, is due in February.

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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
Ingrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain. Connect with Ingrid on Twitter. Email Ingrid at ingrid.fuary-wagner@afr.com

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    Original URL: https://www.afr.com/property/commercial/brookfield-begins-chevron-hq-after-invesco-buys-in-20200129-p53vs6