Deka divests Brisbane office
Deka Immobilien Investments has sold a prominent Brisbane CBD office after six and a half years.
Central Plaza II at 66 Eagle Street curried favour with Marquette Properties for c$400 million following an off-market deal.
The German asset manager paid $380m to a joint venture between Lendlease’s Australian Prime Property Fund Commercial and the Abu Dhabi Investment Authority.
The disposal comes three months since we reported Singapore based Aravest, led locally by Matthew Egan, outlaid $230m for a half-stake in the neighbouring larger Central Plaza, which rises 44 storeys.
Marquette backs Brisbane again
On 2510 square metres, 66 Eagle St is within Brisbane’s revered Golden Triangle.
The 23 level tower contains 31,896 sqm with Brisbane River views (continues below).
APPF and ADIA completed a $15.1m renovation before offering it for sale, adding end of trip facilities.
With a 4.5-star NABERS Energy rating, the property also contains 211 car parks.
The deal comes eight months since Marquette paid QIC $52m for the city’s David Longland Building – anchored to the Department of Justice.
The asset manager is also teaming with Dexus – both Sydney based – to repurpose the 27 story Mineral House at 41 George St as a 1200-bed student accommodation investment.
In 2021 meanwhile, Marquette paid Dexus and the Canada Pension Plan Investment Board $285m for 10 Eagle St – with 27,826 sqm of A-grade space over 34 floors.
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