Australian Unity Investments (AUI) has acquired three unlisted property funds with over $430 million in funds under management (FUM) from Investa Property Group, Financial Standard reports. The funds are the Investa Diversified Office Fund, the Investa Fifth Commercial Trust and the Investa Second Industrial Trust.

The acquisition will increase total assets in AUI’s portfolio, which holds 12 office and industrial buildings across Australia, to almost $2 billion in FUM. Post-deal, several Investa fund managers will join the AUI property team.

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