Australia’s QSuper invests A$1bn in US real estate

QSuper has invested A$1bn (€620m) to buy an office complex and an apartment building in the US. The A$95bn Australian superannuation fund has bought a fully-leased 70,000sqm Bellevue office property in Washington state and a Falls Creek apartment property in Virginia. The Bellevue is a two-tower office leased to Microsoft, and Falls Creek contains 939 apartments and a four-storey garage. The acquisitions follow the purchase of an office building in Austin, Texas last October, and bring QSuper’s total global real estate holdings to A$5.4bn.