This article is from the Australian Property Journal archive
JPMorgan’s Asia Pacific property fund has bought the 28 Freshwater Place office tower in Southbank, on the Melbourne CBD fringe, for $286 million.
The transaction is the largest for a single office tower in Melbourne so far this year.
The asset returns $18.9 million per annum and sold on an initial yield of 6.6%.
It was bought from joint owners Frasers Property Australia and the GPT Wholesale Office Fund.
Australian Property Journal
