INVESTA Office Fund has been offered an initial 25% stake in Deutsche Bank Place at 126 Phillip St Sydney by Investa Property Group.
Last month, Investa made a deal with IOF to sell a 50% stake in the Telstra office building at 242 Exhibition St in Melbourne as well as up to a 50% interest in Deutsche Bank Place.
Investa has now offered IOF 25% in the building with an option to purchase the remaining 25% in future.
IOF will pay $217.50 million for 242 Exhibition St Melbourne, which is slightly more expensive than the $210 million price Investa originally asked in March last year.
And the fund will buy Deutsche Bank Place for $352.50 million from Investa, which currently owns 75% interest.
IOF will become the co-owner of the asset along with Investa 50% and the Investa Commercial Property Fund 25%.
PropertyReview
