Malaysia's CIMB-TCA buys Melbourne office block for $259.2 mln

Reuters

KUALA LUMPUR, Oct 1 (Reuters) - CIMB Trust-Capital Advisors(CIMB-TCA), which administers private equity real estateinvestments for Malaysian lender CIMB, has bought a16-storey office accommodation block in Australia for 845million ringgit ($259.24 million), the firm said in a statementon Tuesday.

CIMB-TCA said it bought the building - 3 Collins Square,which is located in Melbourne, from the Walker Corporation. Thebuilding was completed in April 2012 and is on a long-term leaseto the Australian government.

The building is CIMB TCA's fifth Australian propertyacquisition since entering the market in 2011. The latestacquisition raises CIMB-TCA's total Australian asset value to2.4 billion ringgit.($1 = 3.2595 Malaysian ringgit) (Reporting by Niluksi Koswanage)

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