Beacon Capital Wins Bidding for 14 U.S. Office Buildings

Charter Hall Office REIT in Sydney, Australia, executed binding contracts to sell its interest in 14 U.S. office buildings for $ 1.71 billion to entities affiliated with Beacon Capital Partners LLC.

The gross sale price represents a $ 35 million (or 2%) premium to the Dec. 31, 2010, book value of the properties of $ 1.675 billion.

Charter Hall Office REIT is abandoning the U.S. market to focus on what it believes to be the stronger Australian office…
National Commercial Real Estate News From CoStar Group