Aviva Investors has made its first direct real estate investment in Australia, with more to follow.
Aviva Investors has made its first direct real estate investment in Australia.
The global asset management business has acquired 80 Clarence Street, in Sydney's central business district, for $29.5 million.
"Australia is a strategically important market for Aviva Investors and our clients," Aviva Investors chief executive for Asia-Pacific real estate Ian Hally said.
"The transaction confirms our strategic intention of building a portfolio of quality, institutional-grade, income-producing real estate in Australia and across the Asian region for our clients."
Aviva Investors said it was actively seeking direct investment and partnership opportunities across the Asia-Pacific region.
As at 30 June 2009, Aviva Investors managed more than $43 billion in real estate assets across a range of countries, including China, India, Japan, Singapore and Australia.
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