Elanor Commercial Property Fund (ASX:ECF) has bought a large office building in Canberra, Australian Capital Territory, for $71.5 million.
Settlement is expected to occur on 28 February 2020.
Garema Court is a seven level, A Grade office building with ground floor retail situated in a premium location in the Civic precinct of the Canberra CBD.
The building is 99 per cent occupied.
The building’s office space is wholly leased to The Commonwealth of Australia with a March 2024 expiry.
Shares in Elanor Commercial Property Fund (ASX:ECF) are trading 0.8 per cent higher at $1.26.