Investa Wholesale Funds Management Limited (IWFML) as responsible entity of the Investa Commercial Property Fund (ICPF), today confirmed that it has agreed to acquire an 8.94 per cent stake in IOF from Post Sale Portfolio Issuer Pty Ltd, a company owned by funds managed by Morgan Stanley Real Estate Investing (MSREI).
 
The acquisition follows the purchase of the Investa Office Management Platform (IOM) by ICPF Holdings Pty Ltd, a company stapled to ICPF from MSREI in February this year.

IWFML said the decision to acquire the MSREI stake was taken to create greater alignment between Investa, as the manager of IOF and the IOF unit holders. The acquisition also provided an opportunity for ICPF to invest indirectly in IOF’s high quality portfolio of commercial office assets, with a very high exposure to the outperforming Sydney office market.

The board of Investa Listed Funds Management Limited (ILFML), the responsible entity of IOF, and IWFML are progressing discussions on the terms upon which IOF might acquire a 50% interest in IOM.