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Morgan Stanley eyes 50% stake in A$200M Mirvac building

Mirvac Group is in discussions with Morgan Stanley Real Estate Investing for a potential divestment of a half-stake in the A$200 million-plus office property at 699 Bourke St. in Docklands, Melbourne, that the listed developer co-owns with TH Real Estate, The Australian reported.

The reported negotiation comes as TH Real Estate looks to exit its investment in the property that is anchored by listed company AGL Energy Ltd.

The Bourke Street tower was completed in 2015. It spans roughly 19,000 square meters and features typical office floors measuring approximately 2,600 square meters, the March 29 report noted.