By Shabnam Muzammil:
Property investment firm MGPA has announced its acquisition of Optima Centre (pictured), a Grade A office building in Perth, Western Australia.
“We are extremely pleased to complete this deal, our first asset for MGPA Asien Spezialfonds, our German fund for investors focused on investing in Asia-Pacific. It fits our strategy for the Fund ideally due to its high income yield from predominantly AAA rated covenants and long WALE,” said John Saunders, CEO of MGPA in Asia.
Optima Centre comprises two buildings with a net lettable area of 16,116 sq m and 500 car parking spaces. Completed in 2009 and 2010, the properties are currently fully-leased with the Government of Western Australia occupying 83 percent.
The property was purchased after an off-market competitive process from a joint venture between the developer, Alcock Brown Neaves Group, and entities managed by Macquarie Group.
Hamish MacDonald, MGPA's Director for Australia, said: “The settlement process was smooth and we continue to mine the office markets of Australia for further opportunities for this Fund.”
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email email@example.com