Macquarie buys equity interest in Sydney office building for $A140m

Macquarie buys equity interest Sydney office building for $A140m

Macquarie Asset Management said it has acquired a 50.1% equity interest in 60 Carrington Street, a prime office building in Sydney, for $A140 million (€87 million), on behalf of GLL Australien Fonds.

GLL Australien Fonds is managed by Macquarie Asset Management and its partner Marprop Real Estate Investors on behalf of German institutional clients.

“We are delighted to have secured this iconic building in the heart of Sydney on behalf of our German institutional clients. Situated near a growing transport hub in the city centre, 60 Carrington Street is a high-quality property and a welcome addition to our Australian office portfolio,” said Florian Winkle, Co-Head of Macquarie Asset Management’s Real Estate team in Europe.

The 14,600m2 prime office building is located within the redeveloped and revitalised Wynyard precinct in Sydney’s central business district. Close to key transport connections, the 16-storey property occupies a prominent corner position overlooking Wynyard Park.

The recently refurbished building is currently 100 per cent leased to high-grade tenants and benefits strong sustainability performance, which has been recognised with 5-star Energy and 4-star Water ratings under the National Australian Built Environment Rating System (NABERS).

Macquarie said GLL Australien Fonds has five office investments across Sydney, Melbourne, and Canberra, representing approximately $A450 million (€290 million) in assets under management.