Singaporean fund manager buys Perth serviced apartments

George Sell George Sell Uploaded 31 July 2017

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Australia: Singaporean fund manager ZACD has bought 64 serviced apartments off-plan from Perth developer Finbar for $12.5 million.

The studio serviced apartments form the podium of Finbar's $108 million Aire West Perth development on Murray Street, a 22-storey mixed-use tower that includes 178 one-, two- and three-bedroom apartments due for completion in mid-2018.

ZACD Group is currently in talks with potential serviced apartment operators and expects to select one by the end of the year.

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