Ivanhoé Cambridge has made its first direct investment Down Under, partnering with Blackstone Property Partners Asia to acquire a 25% interest in Sydney, Australia, office property Liberty Place. The stake in the 42-storey office complex—purchased from LaSalle Investment Management—is worth about $230M. Completed in 2013, Liberty Place, with 648k SF, is 97% leased. Ivanhoé EVP Rita-Rose Gagne said her firm “continues to explore the possibilities of increasing our investments in Australia and in other parts of the Asia-Pacific region in 2015.”
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