MELBOURNE, Australia—A subsidiary of Hines Global REIT,Inc. has acquired 818 Bourke Street, anoffice building located in the Docklands Precinct of Melbourne, forabout $135 million (AUD$152.5M).
The seller was a subsidiary of the GPT Group,one of Australia's largest publicly traded REITs. The Australianinvestment manager for Hines is Challenger Management ServicesLimited.
Constructed in 2007 by the Lend LeaseGroup, 818 Bourke is an eight-story,251,038-square-foot class A office building, withground-floor retail and two levels of above-ground parking. The property offers unobstructed waterfront views, incorporatessustainable design and has received a 5.5-starNABERS water rating and a 5-star NABERSenergy rating.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
