CapitaLand acquires Melbourne office complex

MelbourneSingapore-based real estate investor CapitaLand Investment (CLI) has acquired a 22-storey office tower in Australian city Melbourne. The acquisition, made by CapitaLand’s Open End Real Estate Fund, is the firm’s fifth investment in Australia within the last six months. However, it is the first Australian acquisition for the fund which has now invested roughly US$900 million since it was formed in August 2021. The office complex is located in Melbourne’s central business district and has a net lettable area of 32,000 square metres. No details of the cost of the acquisition were disclosed. "Australia is one of CLI's focus markets where we see significant potential for growth,” said Paul Toussaint, managing director for Australia, CLI. © 2022 funds global asia

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