Chinese sovereign wealth fund buys Investa's nine office towers

Chinese sovereign wealth fund buys Investa's nine office towers
Chinese sovereign wealth fund buys Investa's nine office towers

The sovereign wealth fund China Investment Corporation (CIC) has secured Investa Property Group's portfolio of nine office towers.

It came after a knockout bid of more than $2.45 billion.

The Australian Financial Review described it as the biggest direct real estate transaction in Australian history.

It attracted more than 20 bids, nearly half of those came from Asia, including from China's biggest privately owned business, Fosun International Ltd. 

Bankers running the sale, Morgan Stanley and UBS AG secured bids from the United States and South Africa.

CIC and its partner LaSalle Investment Management, had been tipped as the consortium to win the battle for Investa.

China’s largest state investment fund bought 10 shopping centres in France and Belgium this month for about €1.3 billion, one of its biggest acquisitions in Europe along with affiliate AEW Europe.

Following the announcement of CIC’s acquisition of the Investa property portfolio, Colliers International have complied the charts below on Chinese investment in Australian commercial property.

Click to enlarge

Chinese sovereign wealth fund buys Investa's nine office towers

 

Click to enlarge

Chinese sovereign wealth fund buys Investa's nine office towers

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
China Office Sales

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