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| Hines Global REIT acquires second Australian asset Hines, the international real estate firm, announced that Hines Global REIT has acquired the office property at 100 Brookes Street in Fortitude Valley, just outside of Brisbane in Queensland, Australia, for US$67.6 million (AUD$66.5 million). This is the fund's second Australian acquisition. The seller was Anthony John Group, a Brisbane-based real estate firm. The Australian investment manager is Challenger Management Services. The seller was represented in the transaction by CBRE. The Hines Global REIT was represented by Hines. 100 Brookes Street is a six-story, Class A office building containing 105,637 square feet of leasable space. Parking for 206 vehicles is provided in four basement levels. The building is 100 percent leased through January 2018 to Bechtel, for their global mining and metals headquarters. Privately owned Bechtel is one of the world's leading engineering, construction and project management contractors with 52,700 employees with offices in 26 countries worldwide. Completed in 2008, the property incorporates excellence in sustainable design with a 4.5 Star NABERS rating and a 4 Star Green Star rating. Earlier this year, Hines Global REIT acquired 144 Montague Road in Brisbane. The six-story office building is fully leased to Ausenco Limited, a publicly traded company specializing in engineering and project management services. write your comments about the article :: © 2012 Construction News :: home page |