{"id":1004125769,"date":"2015-08-20T07:45:00","date_gmt":"2015-08-20T15:45:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=358468"},"modified":"2022-03-04T00:32:56","modified_gmt":"2022-03-04T08:32:56","slug":"investor-from-down-under-goes-all-in-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investor-from-down-under-goes-all-in-2\/","title":{"rendered":"Investor From Down Under Goes All In"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Australian capital is diving into the Bay. QIC<\/a>, an institutional investment management company, recently paid $174.4 million for the Shops at Tanforan in San Bruno. The deal marks the firm’s first 100 percent-owned property in the United States, following a series of purchases completed in joint venture with Forest City Enterprises. The property was acquired from Breevast B.V.<\/a>, a Dutch company that specializes in commercial and residential real estate investment.<\/p>\n

The Shops at Tanforan is a 970,000-square-foot regional retail center anchored by such tenants as Sears, Target, JC Penney and Century Theatres. Accessible via Interstates 101 and 280, the asset is positioned in an area where tech companies provide most of the economic growth.<\/p>\n

\"Steven<\/a><\/p>\n

Steven Leigh, Managing Director – Global Real Estate for QIC<\/p>\n<\/div>\n

Over the past 18 months, QIC has invested in 10 retail assets across the country. The company recently teamed with AustralianSuper, one of Australia\u2019s largest pension funds, to acquire a quarter stake in the Ala Moana Centre in Honolulu for around $1.1 billion.<\/p>\n

Steven Leigh, QIC\u2019s managing director for global real estate, explained in a statement that the deal reflects the firm’s three-point strategy:<\/p>\n

    \n
  • \u201cWorking with AustralianSuper to secure exposures to very high quality dominant malls such as Ala Moana;<\/li>\n
  • Our joint venture with Forest City, which gives clients access to a portfolio of regional retail assets; and<\/li>\n
  • 100 percent QIC-owned assets like The Shops at Tanforan, which we intend to add more of in the future.\u201d<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Australian capital is plunging into the Bay. QIC, an institutional investment management company from Down Under, recently paid $174.4 million for a retail asset in San Bruno.<\/p>\n","protected":false},"author":41,"featured_media":1004507307,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[],"class_list":["post-1004125769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-san-francisco"],"acf":[],"yoast_head":"\nInvestor From Down Under Goes All In - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/investor-from-down-under-goes-all-in-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investor From Down Under Goes All In\" \/>\n<meta property=\"og:description\" content=\"Australian capital is plunging into the Bay. 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