Charter Hall Venture Drops $582M On Australia Tower

Law360 (July 12, 2019, 2:41 PM EDT) -- Charter Hall Group has formed a venture to buy a Melbourne, Australia, office and retail tower for AU$830 million ($582.3 million), the Australian real estate firm said Thursday.

The deal is for 242 Exhibition St., where Australia telecom giant Telstra Corp. has its global headquarters.

Charter Hall is teaming up with one of its funds, Charter Hall Prime Office Fund, as well as Canada's Public Sector Pension Investment Board to buy the building, which has 47 stories and is 65,913 square meters (709,482 square feet).

“This off market transaction ... reflects the deep relationships we have across our platform with both...

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