Charter Hall Group (ASX:CHC) (Charter Hall or the Group) today confirmed that it has established a new partnership comprising two of its wholesale partnerships to acquire 68% of the freehold, tenants in common interest in 201 Elizabeth Street, Sydney. Charter Hall has partnered with Abacus (ASX:ABP) who will buy the remaining 32% tenants in common interest.
The expected total purchase price is $630,000,000 and the transaction will occur in two tranches, with 75% of the total purchase price payable by mid-November 2019 and the remaining 25% subject to a put and call option expiring at the end of October 2020. The vendor is a 50/50 joint venture between Dexus (ASX:DXS) and Perron Group.
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