M&G acquires 49.9% stake in Sydney CBD office building for A$577.3 mil

/ EdgeProp Singapore |
The acquisition was also supported by an A$259.8 million green loan from OCBC Bank in Sydney.
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Global investment firm M&G Real Estate has acquired a 49.9% stake in EY Centre at 200 George Street in Circular Quay in Sydney, Australia. M&G Real Estate paid A$577.3 million ($576.09 million) for its stake in the prime central business district office tower.
The acquisition was made on behalf of M&G’s core Asia Pacific property portfolio which is managed by Richard van den Berg. The acquisition was also supported by an A$259.8 million green loan from OCBC Bank in Sydney, which was also the sole lender and green advisor for the transaction.
The EY Centre office building was developed by Australian property group Mirvac which owns the rest of the property. The commercial development was completed in 2016 and features sustainable technologies covering energy efficiency and smart building management systems to monitor air quality, power and water usage.
The 37-storey building comprises 35 office floors and two retail levels, and the entire building is fully leased with long-term tenancies that generate a 4.3% rental yield, says M&G.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More