US-based Pramerica Buys 575 Bourke Street, Melbourne, For Speculated $75 Million

PRAMERICA, US-based global real estate investor, is reported to be paying about $75 million for a 16-level office building in Melbourne’s CBD.

The 16,200 square metre office at 575 Bourke Street was offloaded by the Valad Property Group’s V Fund. The fund manager acquired the asset for $50.87 million in 2005.

Pramerica’s acquisition, reported in The Australian’s Primespace section, is the latest in a string of national commercial assets.

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