Morgan Stanley is planning to exit its Australian real estate business, and is looking for bidders for its stake in Investa Property Group, held through Morgan Stanley Real Estate Investing.
Investa owns properties in Australia’s two largest cities, Melbourne and Sydney, where demand is strong. It manages A$8.9b of offices and is also engaged in land development.
Funds managed by Morgan Stanley Real Estate bought Investa in 2007 in a deal valued at A$6.6b.
