CBRE to manage Peakstone portfolio

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SINGAPOREAN fund manager Peakstone has appointed CBRE to manage a portfolio of six properties, including Sydney’s landmark 45 Clarence St office tower.

The contract will be headlined by 45 Clarence St, which Peakstone exchanged conditional contracts to acquire from Dexus for $530 million in June this year.

The circa 100,000 sqm portfolio also includes 55 Clarence St in Sydney, Westralia Plaza, 55 and 182 St Georges Terrace in Perth and the 637 Flinders St development in Melbourne.

Senior director, property management, James King said this significantly extends CBRE’s relationship with Peakstone.

“We look forward to partnering with Peakstone on value-add strategies to further optimise the performance of its Australian portfolio, including the launch of the new 637 Flinders St precinct,” he added.

“We have a hands-on approach and look forward to working with CBRE as we continue to grow our portfolio in Australia and New Zealand.” Peakstone’s head of asset management Steve Gray said.

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