The Property Tribune: … Arcana Capital acquires $25M in offices
The commercial property investor and funds manager has acquired offices in Brisbane and Perth.
Arcana’s Brisbane acquisition is located at 35 Miles Platting Road, Eight Mile Plains, acquired for $13.55 million. The Perth acquisition was made for $12 million and is located at 190 Stirling Street.
The 190 Stirling Street property is a modern commercial office with an anchoring lease to the WA Department of Communities (Child Protection and Family Support).
The Brisbane acquisition is located in the Brisbane Technology Park, and anchored by major national fuel and convenience retailer 7-Eleven, international solar giant Risen Energy, and growing multi-disciplinary NDIS operator Pepper Kids Therapy.
Colby Phillis, Manager, Investor Relations at Arcana Capital, said that the blend of geographic diversity, multiple high-quality tenants, and CBD proximity marks an exceptionally well-balanced risk profile.
This article originally was published in The Property Tribune.