Chinese Wealth Fund Spends Big In Australia

The Asian Wealth Times reported recently here that the China Investment Corporation (CIC) had spent €1.3 billion on snapping up a retail portfolio in Belgium and France.

It now seems that the aggressive fund has gone one better splashing out over $1.7 billion in acquiring the real estate portfolio of Investa Property Group, the Australian subsidiary of Morgan Stanley Real Estate Investing.

As a result of the transaction CIC will now become one of Australia’s largest commercial landlords with ownership of commercial properties in Brisbane Melbourne and Sydney.

It was believed that fellow Chinese investors Fosun had also been looking at this deal.

 

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