Dexus Property Group and CBus Property, the property fund for the Building Industry Super Fund, will partner in the development of a six-star office tower in Sydney. CBus has acquired a one-third interest in the property.
The development has also secured a project funding package from two major Australian banks.AMP Capital Investors Head of Opportunity Funds Dale Phillips said the project has progressed well since its marketing launch late last year with strong support from buyers despite the tough economic conditions.