29.07.2015 - Investa acquisition just another day at the office for CIC
It may be the biggest direct real estate transaction in Australia ever but China Investment Corporation's acquisition of the $2.45 billion Investa portfolio of office towers is just the latest purchase in a $7 billion global property spend by the Chinese sovereign fund this year alone. The Australian Financial Review first reported on Monday night that the CIC International had won the Investa Property Group portfolio of office towers with a bid just shy of $2.5 billion. It is the biggest direct real estate transaction in Australia to date and represents an extremely sharp initial yield of 5 per cent. But CIC, which was set up in 2007 to manage China's foreign exchange reserves, has been making headlines all year for its property acquisitions...............................................Full Article: Source
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