Blackstone Group Inc. is looking to sell the office tower at 100 Market St. in Sydney for more than A$650 million and hired JLL and Cushman & Wakefield to market the asset, The Australian reported.
The property, which features 2,800 square meters of floor plates, is home to Australian regional mall real estate investment trust Scentre Group and the corporate regulator.
The private equity giant bought the asset for A$1.52 billion as part of a three-tower portfolio deal with Scentre. Blackstone reportedly will keep the two other buildings at 77 and 85 Castlereagh St.
Blackstone and Canadian real estate investor Ivanhoé Cambridge Inc. closed on the sale of their 25% stake in the Liberty Place office tower in Sydney to superannuation fund-backed group ISPT Pty. Ltd., the publication noted.
ISPT won the bid for the Australia & New Zealand Banking Group Ltd. headquarters building against a GPT Group-managed fund, which owned a 50% stake in the property, according to The Australian.
