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Pramerica Eyes $129M Sydney Building Stake

Pramerica Real Estate Investors is seeking to buy a 50% stake in the Ark Building for $129 million.

Pramerica Real Estate Investors is seeking to buy a 50% stake in the Ark Building for $129 million, Bloomberg reports. The Prudential Financial REIT will purchase the Sydney property from Morgan Stanley-owned Investa Property Group.


The tenants of the building include Coca-Cola Amatil, Vodafone Hutchison Australia and Australian Worldwide Exploration.Investawill continue to retain the remaining half of the stake.


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