Barings, one of the world’s largest diversified real estate investment managers, has announced the acquisition of 100% leasehold interest in Darling Square, 35 Tumbalong Boulevard, Sydney, for a gross purchase price of A$360 million.
This transaction, undertaken via Barings’ fifth Real Estate Australia Value Add Fund (“BRAVA V”), marks a significant addition to Barings’ Australian portfolio and underscores its commitment to investing in premium-grade, ESG-certified office assets.
Darling Square is a multi-award-winning, premium-grade office building, developed by Lend Lease, offering 27,750 sqm of net lettable area across 13 levels, including expansive office floorplates, retail tenancies, and 451 secure car parking spaces. The property boasts market-leading sustainability credentials, including a 5.5-Star NABERS Energy rating, 6-Star Green Star Design & As Built, WELL Platinum certification, and Climate Active Carbon Neutral Certification.
Shaun Hannah, Executive Director, Investment Management at Barings Real Estate Australia, said:
“Darling Square is a best-in-class asset, strategically located in Sydney’s vibrant Darling Harbour precinct. Its premium quality, strong ESG profile, and blue-chip tenant base, anchored by Commonwealth Bank of Australia, make it a compelling long-term investment. This acquisition aligns with our strategy to deliver resilient income and capital growth for our investors.”
Settlement is subject to Foreign Investment Review Board (FIRB) approval.
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