ADIA Co-Investment in Brisbane Tower Sells for A$ 122 Million
The Abu Dhabi Investment Authority (ADIA) and Lend Lease’s Australian Prime Property Fund Commercial have sold the CP3 office tower to Boston-based Pembroke Real Estate. The A$ 122 million transaction was for a 14-story office tower in Brisbane.
Family-owned Pembroke was established in 1997. The main source of capital comes from Fidelity Investments and family office vehicles. Pembroke Real Estate purchased its first Australian real estate asset in 2011. The CEO of Pembroke is Edward C. Johnson IV brother to Fidelity president Abigail P. Johnson.
CBRE and McVay Real Estate handled the transaction.
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