RealMont Property Partners invest $72m for Japanese Group5 April 2020
Australian Unity Diversified Fund has sold its investment at 200 Victoria Ave Carlton to RealMont for $72m.
RealMont were reported to be acting for an as yet unnamed Japanese investment group.
The property is a high quality, six-level, A-grade office building with retail space on the ground floor. The building contains a total of 7,911sqm of office space which is predominantly leased to the EPA. The WALE of the building is approx 2.43yrs.
Australian Unity held the asset at its October 2019 valuation of $59.2m based on a cap rate of 5.25%.
RealMont approached Australian Unity with an unsolicited offer and the pair ultimately reached agreement on a 21% premium to the Fund carrying value.
Realmont were the acquisition and due diligence provider to Soilbuild in their acquisition 25 Grenfell Street, Adelaide and assisted Nippon Telegraph and Telephone Corporation in their acquisition of 121 Marcus Clarke Street in Canberra for $100 million.