麻豆映画

Real Estate鈥檚 Asia Core Fund and Australian financial group, Challenger, are jointly investing in a Melbourne office complex, according to a source.

The partnership is investing AUD430m (鈧�300m) in central Melbourne.

The fund and Challenger will each have a 50% stake in the property, in Melbourne鈥檚 Docklands.

It will be Invesco鈥檚 first joint investment with Challenger.

The source told 麻豆映画 Real Estate that both parties are still in due diligence, and that the transaction is likely to reflect a yield 鈥渟ofter鈥� than 5%.

The deal is expected to close 鈥渧ery soon鈥�, the source said.

Challenger will carry the asset on its balance sheet, the source said, while Invesco鈥檚 Asia Core Fund will own its half of the complex, which houses an office tower, retail space and car park.

Ian Schilling, Invesco鈥檚 head of Australian real estate, declined to comment.

In another first deal, , Invesco provided AUD150m of senior debt for a high-rise residential project known as Skytower, currently under development in Brisbane.

Industry sources told 麻豆映画 Real Estate at the time that the investment was being made on behalf of one of Invesco鈥檚 regional opportunity funds.

In recent years, Invesco has been active in Australia, buying an office building in Melbourne from Cromwell Property Group in 2014 for AUD208m.

Its single largest purchase was Centennial Plaza, on the edge of Sydney鈥檚 central business district, for AUD305m for the China Investment Corporation (CIC).