German fund manager Real IS has acquired an office property in Australia鈥檚 capital city for a mutual fund.

Real IS said it bought the Maddocks House property at 40 Macquarie Street in the government district of Canberra from an undisclosed vendor for AUD29m (鈧�17.8m).

Maddocks House has a total rental area of around 5,500sqm and is full-let on a long-term basis.

Axel Schulz, the global head of investment management at Real IS, said: 鈥淚n terms of our purchasing strategy, Canberra ticks all the boxes as the perfect location.

鈥淲ith our long-standing investment experience in the Australian market, we are successfully continuing to offer attractive investments for private investors.鈥�

 

 

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