{"id":1004117584,"date":"2015-04-15T05:38:30","date_gmt":"2015-04-15T13:38:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004117584"},"modified":"2022-12-06T17:28:34","modified_gmt":"2022-12-07T01:28:34","slug":"ivanhoe-cambridge-enters-australian-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-enters-australian-market\/","title":{"rendered":"Ivanho\u00e9 Cambridge Enters Australian Market"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004117587\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-enters-australian-market\/liberty-place\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg\" data-orig-size=\"642,900\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Liberty Place\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg?w=642\" class=\"alignright size-medium wp-image-1004117587\" alt=\"Liberty Place\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg\" width=\"214\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg 642w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Liberty-Place.jpg?resize=214,300 214w\" sizes=\"auto, (max-width: 214px) 100vw, 214px\" \/><\/a><\/i><\/p>\n<p>Ivanho\u00e9\u00a0Cambridge and Blackstone Property Partners Asia have partnered to acquire a 25 percent interest in Liberty Place, a 42-story office tower complex in Sydney, Australia, from Lasalle Investment Management, for $183.25 million.<\/p>\n<p>This is Ivanho\u00e9\u00a0Cambridge\u2019s first acquisition in Australia.<\/p>\n<p>\u201cWe are enthusiastic about the opportunity to invest in Australian real estate,\u201d Rita-Rose Gagn\u00e9, Ivanho\u00e9 Cambridge\u2019s executive vice president, growth markets, said in a company statement. \u201cBlackstone\u2019s strong knowledge of the Australian market and its established presence in Australia have been key to the success of this transaction.\u201d<\/p>\n<p>Originally completed in 2013, Liberty Place is located at 161 Castlereagh through 242 Pitt St., in the heart of Sydney\u2019s Midtown. It houses law firm Herbert Smith Freehills and the Boston Consulting Group.<\/p>\n<p>The property features 647,729 square feet of office space and 47,630 square feet of retail space. The building is currently 97 percent leased.<\/p>\n<p>According to CBRE\u2019s latest Global Office Rent Cycle report, the office market in the Sydney Central Business District is bottoming out and is expected to record positive rental growth in 2015. Overall, the Sydney CBD market experienced a 21 percent increase in inquiry volume in 2014.<\/p>\n<p>\u201cEncouragingly, the market also saw a healthy jump in the number of deals transacted during 2014, with deal flow increasing by close to 20 percent,\u201d Jenine Cranston, CBRE\u2019s senior director, office services, said in the report. \u201cThis affirms the more positive sentiment in the market, with far more genuine engagement, which has carried over into 2015.\u201d<\/p>\n<p>According to Gagn\u00e9, Ivanho\u00e9 Cambridge will continue to explore the possibilities of increasing its investments in Australia and in other parts of the Asia-Pacific region in 2015.<\/p>\n<p>Ivanho\u00e9 Cambridge holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico and Asia, which totals more than $42 billion.<\/p>\n<p>Ivanho\u00e9\u00a0Cambridge has also recently <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/international\/ivanhoe-cambridge-grabs-office-property-in-london\/1004115253.html\">acquired 3 Minster Court<\/a>, a 275,000-square-foot building in London for approximately $256.4 million<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ivanho\u00e9 Cambridge is partnering with Blackstone Property Partners Asia on an acquisition Down Under. <\/p>\n","protected":false},"author":451,"featured_media":1004117587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21747],"tags":[],"class_list":["post-1004117584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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