Mapletree targets 12% IRR for Australia office fund

Singapore

MAPLETREE Investments has successfully closed a new Australian private commercial trust at about A$654 million (S$608 million) in total fund equity.

MASCOT Private Trust (MASCOT) is fully invested at closing and owns 10 Grade A office assets that are strategically located in key Australian gateway cities - Sydney, Melbourne, Adelaide, Brisbane and Perth - with a total asset value of about A$1.4 billion. The properties include 111 Pacific Highway in North Sydney and 11 Waymouth Street in Adelaide's CBD.