Kriftel, 05.08.2021. Real estate advisory firm Steinberg Real Estate + Finance has advised the “Australian Institutional Portfolio Fund” of Munich-based investment manager Real I.S. AG on the closing of the financing with an Australian bank for the acquisition of the fully let multi-tenant office property “11 Wilson Street” in South Yarra (Melbourne).
Excerpt from Real I.S. AG press release:
“Real I.S. Group has acquired the fully let multi-tenant office property “11 Wilson Street” in South Yarra (Melbourne) for the “Australian Institutional Portfolio Fund” (AIPF). This is the fourth property the company has purchased for this fund. The seller is the Vicland Property Group. The parties have agreed not to disclose the purchase price.”
“The property at 11 Wilson Street is a nine-storey new build property with approximately 6,400 square metres of total lettable area, plus a basement level with underground parking and 19 spaces. The property was completed in 2020 and is located in the South Yarra office submarket in Melbourne. This is considered an established and up-and-coming district, with a diverse range of dining and retail options, as well as excellent public transport links.”
“The Real I.S. themed Australian Institutional Portfolio Fund (AIPF) is aimed at institutional and semi-institutional investors, who have already invested more than A$200 million of capital in the fund to date. “With the new property acquisition in Melbourne, the fund gains further attractiveness for German investors who want to enter the prospering Australian market,” says Tobias Kotz, Head of Client Relations and Capital Funding. The real estate special AIF according to KAGB is eligible for real estate quotas and invests primarily in office properties and Australian core and core-plus investments. An admixture of retail, logistics, mixed-use properties and hotels is possible.”
Link to the Real I.S. AG press release: link
About Steinberg Real Estate + Finance
Steinberg Real Estate Management GmbH is a consulting and investment company founded in 2017 and based in Kriftel near Frankfurt am Main. Steinberg Real Estate + Finance focuses on the marketing and restructuring of complex real estate and real estate financing throughout Germany. In addition, Steinberg Real Estate + Finance is itself active as an investor in the field of distressed real estate and real estate loans and insolvency claims. The shareholders of Steinberg Real Estate + Finance are the two managing partners Antje Mertig and Michael Schäff. www.steinberg.management
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