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Ivanhoe Cambridge Invests 182M in Australia

SYDNEY—The Canadian fund manager, working with Blackstone, has acquired 25% interest in a 42-story office building.

By David Phillips | Updated on April 14, 2015

SYDNEY—Ivanhoé Cambridge has partnered with Blackstone Property Partners Asia to buy a 25% stake in a Sydney office building for about $182 million, marking its first direct-investment in Australia. Ivanhoe Cambridge said earlier this week that it acquired the interest in the 42-story office tower complex Liberty Place from Lasalle Investment Management for $181.97 million (A$240M). The remaining 75 % stake is still owned by Australian property investment firms GPT Group and ISPT,according to a report from Reuters.

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