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Report: Hong Kong Monetary Authority buys Sydney property stake for A$450M

AMP Capital bought a 25% interest in Brookfield Property Partners LP' A$1.8 billion Wynyard Place commercial development in Sydney on behalf of the Hong Kong Monetary Authority for A$450 million, IPE Real Assets reported.

Wynyard Place, which is expected to be completed in 2020, is a 75,000-square-meter precinct including a 59,000-square-meter office tower in three separate buildings.

AMP Capital's Wholesale Office Fund earlier took a 25% stake in the office tower, while another client UniSuper, an industry super fund, acquired a 24.9% interest, the report noted.

A spokesperson for the central bank told the news publication that it does not comment on the institution's investment activities, while AMP Capital did not comment on the matter. However, the central bank had a separate account with AMP, according to a source.