Charter Hall JV buys Australian portfolio

Australia-based Charter Hall Group has announced a 50-50 partnership with HOSTPLUS, a A$15 billion ($14 billion) Australian superannuation fund, to acquire a A$603 million ($563 million) portfolio of Australian properties. The seller is ALH Group.

The ALH portfolio comprises 54 high-quality hospitality assets, 46 of which also include a Dan Murphy’s and/or BWS retail tenancy, which are predominately located across Australian metropolitan areas. The triple-net lease structure and uncapped annual Australian CPI rental increases from the leading retail liquor and pub operator are expected to provide an attractive investment