Singaporean sovereign wealth fund GIC is raising its stakes in Sydney's second CBD, Parramatta, teaming up with avid investor Charter Hall to purchase an A-grade office tower for $415 million.
Jessie Street Centre, a 15-storey commercial building which was sold by Canadian group Brookfield, is the latest acquisition by the two investors, which have a well-established partnership dating back 15 years.
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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
