MA Financial Group Limited have conditionally secured one of Perth's well-known A-Grade office towers, "Allendale Square," through a 50:50 joint venture for $223 million. The 31-storey office building is located within the heart of WA's capital city at 77 St George's Terrace, providing 25,908sqm of office accommodation and 2,745sqm of food, beverage and non-discretionary retail space below the tower. Allendale Square has a 5.8-year weighted average lease expiry (WALE) 1 and 85% occupancy 2. It is the second JV acquisition between MA Financial and Centuria, having secured 25 Grenfell Street, Adelaide, in October 2021. The investment in Allendale Square will seed new single-asset unlisted property funds for both firms. This transaction is another example of MA Financial's continuing expansion in its real estate management offering as well as capitalising on its strong industry relationships to partner on high
quality investments. Including this transaction MA Financial has transacted over $900 million of office, retail and logistics assets over the last two years.