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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Korean Investment Corporation to take stake in Melbourne office complex

Posted on 09 August 2016

The South Korean sovereign wealth fund, the Korean Investment Corporation (KIC), is believed to be part of a group acquiring a half stake in a Melbourne office complex for AUD289m (€188m).
The vendor, Dexus Property Group, has given the group an option to take the remaining 50% for the same price – valuing Southgate Complex, on Melbourne’s Southbank, at AUD578m. Darren Steinberg, Dexus chief executive, told IPE Real Estate: “This was the first tranche of the sale. Over the next few months, we will sell the remaining 50% in a second tranche………………………………………..Full Article: Source


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