Charter Hall Group (ASX:CHC) has inked a deal to buy an office tower in Sydney for $172.5 million.
The property group’s latest acquisition has 35 levels and is located at 9 Castlereagh Street in the city’s central business district.
Charter Hall Group expects the office tower to generate a rental income of $15.1 million on a fully leased basis and believes it can add further value to the asset.
The acquisition will be funded using existing debt capacity and is expected to settle at the end of this month.
The announcement comes one day after Charter Hall Group launched a $400 million wholesale industrial partnership with two Australian institutional investors.
Charter Hall Group reported a net profit of $14.4 million in the 2012 financial year.
