Real estate investor and fund manager Cromwell Property Group has acquired Chesser House on Grenfell Street in the Adelaide CBD for its direct property fund in a $81.35 million deal.
Comprising more than 11,000 sq m, 95 Grenfell Street was sold on a passing yield of 5.12 per cent and a core capitalisation rate of 5.5 per cent by its owners, Harmony Property Investments and Arc Equity Partners.
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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
