Opportunistic purchases in Australian CBD
Boston Global (BG) is identifying commercial properties within the CBD locations of Sydney, Melbourne, Canberra and Brisbane. Taking advantage of current market conditions BG looks to syndicate opportunities. BG is looking to purchase 5 properties over the next 5 years in stand-alone syndicates, and looks to provide an exit opportunity at the end of 7 years.
It is anticipated that most properties will be bought at a lower grade and repositioned. This will allow the syndicate to benefit from a value-add approach, as well as allowing the syndicate to benefit from acquiring assets in a potentially depressed office market.
BG is collaborating with Work Club (WC) in the development of each site. This collaboration allows BG to reposition the buildings in improving the property grade and cornering a tenant for each building purchased.
WC creates a human ecosystem that unites diverse professionals and businesses around shared ideals. WC currently has 8 locations in Australia and 18 international affiliate sites.