Allianz Real Estate, a real estate investment manager, and National Pension Service of Korea, a public pension fund, agreed to acquire a 50% stake in Sydney’s Commonwealth Bank Place from Abu Dhabi Investment Authority for $223m. “The pandemic has re-emphasized the importance of micro location, city density, asset quality and ESG when investing in an office asset. Sydney is one of the most liveable cities in the world and the long-term outlook for the Sydney office market remains favourable, supported by robust economic fundamentals, an attractive labour market and strong infrastructure investments," Danny Phuan, Allianz Real Estate Asia-Pacific Head of Acquisitions.