Real Asset Management chief executive Scott Kelly said the fund manager had capitalised on a short “window of opportunity” before commercial property values rise again after acquiring a fully leased Brisbane office tower from ASX-listed Growthpoint Properties for $141.1 million on a yield of 7 per cent.

The 23-storey A-grade tower at 333 Ann Street, in the heart of the Brisbane CBD, was acquired for RAM’s unlisted diversified property fund at slightly above its June book value of $140 million.