has made two acquisitions totalling AUD90m (β¬63.8m) in Australia for an Asia-Pacific fund that caters to German institutional investors.
In the same week that it acquired a suburban shopping centre in Brisbane, it was revealed that had made its debut Australian investment in December, buying four-star serviced apartment hotel in Perth.
The assets were bought for Savills IM Asia Pacific Fund, previously known as SEB Asia REI, which was set up in 2012 as an open-ended core fund. Savills IM of SEB in 2015.
The regulated Spezialfonds vehicle for German institutional investors already owned assets in Singapore and Japan worth around AUD300m.
The news comes a week after on behalf of its Asia-Pacific Spezialfonds for German investors.
Savills IM is seeking to raise more capital for its fund to invest in core and core-plus assets in established markets in Asia-Pacific.
Lee Tredwell, head of investments for Australia at Savills IM, told ΒιΆΉΣ³» Real Estate: βThese two investments fit well into our strategy because of the high occupancy and long lease expiry.
The Brisbane shopping centre is let to supermarket chain Woolworths, and the Queensland Government. The hotel is leased to 2031 and is located in Perthβs central business district.
βThey dovetail with the fundβs diversification approach of investing across multiple asset classes, comprising office, retail, logistics, hospitality and residential.β
Tredwell, who is responsible for managing and sourcing assets in Australia, having , said: βWe are still looking at a number of additional opportunities.β
Savills IM opened its Australian office in May last year. βWith a team on the ground, we see our [Australian] business growing, with more of our funds and mandates looking to invest here,β Tredwell said.
There is strong appetite for Australian assets among investors in Savills IMβs funds and mandates, he said.
