Macquarie Office & Principal renew vowels

MACQUARIE Office Trust and Principal Real Estate Investors have agreed to continue their relationship.

Principal Real Estate will now provide advisory services for the US real estate portfolio of Macquarie Office Trust and act as US acquisitions manager on any transactions it sources for Macquarie Office.

The term of the agreement will be one year from November 01, with mutual renewal options.

“We have built a close and successful relationship with Macquarie over the last three years and we’re delighted to see it continue,” Principal Real Estate’s managing director Dan Thornton said. “While we will no longer act as US asset manager for Macquarie Office, we are honoured to continue to advise them on their US investment strategy,”

Macquarie Office’s chief executive Adrian Taylor said the trust has significantly expanded its US investment team and are now capable of handling its US portfolio, acquisitions and asset management needs directly through Macquarie Real Estate.

“However, we’ve been very pleased with the calibre of service Principal Real Estate Investors has provided over the last three years and we’re glad to continue the relationship under the new arrangement,” Taylor concluded.

Australian Property Journal