DWS sells Brisbane CBD office for $24m less than it paid for it
Campbell KwanReporter
International funds house Deutsche Asset & Wealth Management has sold an A-grade Brisbane office tower for $119 million to local property fund manager Clarence Property, after paying almost $143 million for the asset seven years ago.
According to sources familiar with the deal, the sale represents a discount of between 20 per cent and 25 per cent from its peak value, and a yield of 8.46 per cent.
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