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AustralianSuper enters UK commercial real estate debt market

AustralianSuper through its partnership with TH Real Estate has made its first UK commercial real estate debt investment by jointly financing a £280m (€314.7m) Central London mixed-use scheme.

The AUD140bn (€86.17bn) Australian pension fund said it has committed £230m to finance the One Crown Place project being developed by Malaysian conglomerate MTD Group. TH Real Estate’s recently launched Global Real Estate Debt Partners - Fund II (UK) (GREDP Fund II) is participating with a £50m commitment.

The 370,500sqft mixed-use scheme, comprises 136,000sqft of office space, 7,000sqft of retail, a 41-bed boutique hotel and 246 luxury residential units. CBRE is acting as development manager on behalf of the Malaysian conglomerate MTD.

IPE Real Assets – 17 September 2018