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Report: Blackstone sells Melbourne asset for A$114.5M to Charter Hall

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Report: Blackstone sells Melbourne asset for A$114.5M to Charter Hall

Charter Hall Group's Charter Hall Prime Office Fund purchased an office tower in Melbourne from Blackstone Group LP for A$114.5 million in an off-market deal, IPE Real Estate reported.

The building is at 990 LaTrobe St. in Docklands, Melbourne, and is part of the roughly A$600 million portfolio that the private-equity giant acquired from the Motor Accident Commission of South Australia in May.

Melbourne Water, a Victorian government agency, is the sole tenant of the property, according to the Aug. 2 report.

As of Aug. 2, US$1 was equivalent to A$1.25.