Irongate Group has taken over a Canberra office tower from US private equity player Blackstone in a $73.75 million deal, which the ASX-listed property trust will fund in part through a capital raising.
The acquisition of 38 Sydney Avenue in Forrest was struck on an initial yield of 5.13 per cent, in a deal brokered by CBRE’s Scott Gray-Spencer and Kenny Duncanson.
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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
