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Link REIT leads with A$700M bid for Blackstone's Sydney office property

Hong Kong-listed Link Real Estate Investment Trust is leading the bidding for an office building in Sydney with a roughly A$700 million offer, The Australian reported.

Other bidders for the property include JPMorgan Asset Management and Singapore's Keppel REIT, the Dec. 12 report added.

The tower, located next to the Westfield Sydney shopping center, is being sold by U.S.-based The Blackstone Group Inc. The private equity firm bought the property in June as part of a three-tower package deal from Scentre Group worth A$1.52 billion.

Tenants of the building include the Australian Taxation Office and Scentre.