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Primewest, AMP Capital sell office asset in Perth, Australia, for A$326M

Australian property developer Primewest Management Ltd. and the AMP Capital Wholesale Office Fund sold the 40-story, 34,479-square-meter Exchange Tower office building in Perth for A$326 million, the Australian Financial Review reported.

Primewest Counter Cyclical Trust acquired the asset, acting on behalf of Singapore's GIC Real Estate, the report said.

The building, near Elizabeth Quay in the central business district of Perth, is occupied by ARUP, Fujitsu, Patersons, Morgan Stanley, Knight Frank, Bain International, Mitsubishi Australia and a signage-rights tenant, accounting firm RSM.

According to the report, Primewest Counter Cyclical will manage and lease the asset.