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Mapletree Investments leads bidders for RF CorVal's A$150M Sydney building

Singapore's Mapletree Investments Pte. Ltd. is in pole position to acquire RF CorVal's office building in Sydney's Chatswood district for approximately A$150 million, The Australian reported.

The 97%-leased property at 67 ­Albert Ave. features 14,800 square meters of office space, parking slots for 193 cars and 1,100-square-meter floor plates. It carries an approval for a second 7,100-square-meter office building, according to the publication.

RF CorVal, which bought the building in 2014 from Eureka Funds Management Ltd.'s Core Property Fund 3 for A$84 million, holds the asset through its unlisted Value Active Fund. The latest sale is being managed by Cushman & Wakefield and Colliers International, the Oct. 9 report added.

Separately, at least two other buildings are on offer in Sydney. According to The Australian, Anton Real Estate Partners is selling the 11,259-square-meter, Mastercard-leased property at 72 Christie St. in Sydney's St Leonards suburb, which is expected to fetch over A$150 million. Insurance group Zurich Fin­ancial Services is also divesting a A$350 million-plus under development building in the city's north.