Listed property fund manager Charter Hall has increased the portfolio value of its diversified property fund (DPF) to more than $160.5 million following the purchase of a Sydney property.
The group's DPF has acquired APP House in North Sydney for $23.9 million. The acquisition increases the portfolio to 12 assets with a total portfolio value of approximately $162.5 million.
Commenting on the purchase, Charter Hall joint managing director David Harrison said: "The acquisition provides additional tenant and sector diversity for DPF, increasing exposure to the fast improving Sydney office market whilst maintaining a high proportion of the portfolios income generated from national and international tenants."
Charter Hall Group is a property funds management and development company based in Sydney with offices in Brisbane, Perth and Auckland.
Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust.
The group currently has funds under management in excess of $2.8 billion and a market capitalisation of over $1.3 billion.
