SYDNEY – The Sydney office of Hines, the international real estate firm, announced that Hines Global REIT, Inc. has acquired 825 Ann Street, an office building in Fortitude Valley, in Brisbane, Australia, for $128 million. The seller was a trust owned by Laing O’Rourke Australia. The Australian investment manager is Challenger Management Services Limited.
825 Ann is 99 percent leased to three office tenants: Ergon Energy; Laing O’Rourke Construction; and Macquarie Bank; and retail tenant 4evermen.
Designed by Rice Daubney, 825 Ann is a new 11-story, 206-507-sf office building, with ground-floor retail and two levels of underground parking.