Market entry in Australia: Commerz Real acquires headquarters of Federal Police in Sydney for hausInvest

Press release for the US market – With its open-ended real estate fund hausInvest Commerz Real has expanded its international investments to include Australia: it has acquired the headquarters of the Australian Federal Police (AFP) in a central downtown location in Sydney. The contractual parties agreed to maintain confidentiality on the purchase price. The complex encompasses eleven storeys of office space with a total area of some 14,300 square metres, as well as various police-specific facilities and a car park with 165 spaces.

“We are taking a new path so as to develop additional international markets and utilise attractive investment opportunities – in cooperation with renowned partners or with our own resources, e.g. with our Hong Kong-based subsidiary Commerz Real Asia-Pacific Ltd.,” explains Dr. Andreas Muschter, the Chief Executive Officer of Commerz Real AG. “It is our objective to complete further acquisitions in the Asia-Pacific area in the foreseeable future so as to develop a stronger market position. A comparable approach was taken with the re-entry of hausInvest into the American real estate market in 2014.” The fund strategy of hausInvest allows for as much as 15 per cent of the fund assets to be invested outside Europe.  

“This acquisition is of particular significance for us: not only are we pleased with the successful market entry in Australia, but also with the first joint transaction between our Wiesbaden team and Commerz Real Asia Pacific Ltd.,” says Robert Bambach, the board member of Commerz Real AG responsible for real estate transactions. “The Australian real estate market is one of the most transparent worldwide, with a positive development in rents and a comparatively good outlook for earnings. Furthermore, it only correlates with other international markets to a minor degree.

Thus the acquisition in Sydney represents a sustainable contribution to the diversification of the fund portfolio.”

In view of its location, the high creditworthiness of the tenant and the potential for value appreciation resulting from the options offered by the lease contract and the possibilities for expansion and use by third parties, the acquired property is one of the most attractive investment opportunities of recent years. The Federal Police has been the sole tenant since the completion of the property in 1990, which is ample testimony to its high degree of satisfaction with the building and its location.

The property 110 Goulburn Street is located in the central business district – not far from Hyde Park, Chinatown and Oxford Street. In the immediate vicinity are other official agencies and numerous courts, something which in turn ensures its attraction for law firms and consulting companies. Inasmuch the prerequisites for possible subsequent marketing of the areas are very good.

The transaction was accompanied by the real estate service advisers CBRE and Eureka.    

 

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About Commerz Real
Commerz Real is a fully-owned subsidiary of Commerzbank AG with more than 40 years of market experience and approximately 32 billion euros in assets under management. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund hausInvest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts along with bespoke financing arrangements for assets such as real estate, big-ticket equipment and infrastructure projects.

www.commerzreal.com

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01/10/2015 Uhr
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