Property investor Charter Hall Group, which manages nearly A$40 billion worth of funds, has A$3 billion worth of "firepower" to expand, The Australian reported, citing CEO David Harrison.
Chronically low interest rates have increased the allure of commercial properties, such as offices and warehouses, for institutional investors, Harrison said.
The CEO said the fiscal year ended June 30 was "exceptional," as the company attracted A$3.4 billion of new equity inflows, which backed it into striking A$5 billion worth of deals.
Meanwhile, a Charter Hall Group-managed fund is close to finalizing the sale of a heritage commercial building in Brisbane, Australia, to Elanor Investors Group for approximately A$45 million, The Australian Financial Review reported, without citing sources.
The sale price of the seven-story property, which counts co-working space provider Hub Australia a key tenant, represents a yield of about 7% for Charter Hall.
