Australia’s government wealth fund, the Future Fund, has acquired a 50% stake in office building, Waterfront Place, in Brisbane for $230 million, Reuters reports. The seller was an unlisted property fund of real estate firm, Stockland.

The Future Fund is also buying a 50% stake in the Eagle Street Pier in Brisbane, a waterfront precinct with restaurants, for $16.93 million from Stockland. The company aims to focus on retail, retirement villages as well as residential and plans to reduce other non-core assets.

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