Jan 31, 2022
|
Media release
Allianz-NPS fund to acquire 50% stake in marquee Commonwealth Bank Place asset in Sydney
Allianz Real Estate, on behalf of National Pension Service of Korea (“NPS”) and Allianz group companies (“Allianz”), via its AREAP Core I fund has entered into definitive agreements to acquire a 50% stake in Sydney’s Commonwealth Bank Place (“Darling Quarter”) asset at a gross valuation of approximately USD 445 million. The transaction, subject to regulatory approvals, is expected to close in Q1’2022.