AMP Capital's Global Direct Property Fund has extended its US property portfolio for the first time since before the Global Financial Crisis.
The company announced this week it had purchased a core office building in Boston, Massachusetts for US$17.6 million.
It said the transaction had followed on from the acquisition of a Paris office property during 2011 and is the fund's first US acquisition since the Global Financial Crisis.
AMP Capital said the property, Two Liberty Square, was a historic B Grade office building in Boston's financial district.
Commenting on the acquisition, AMP Capital fund manager Tim Fallet said the property provided exposure to what had traditionally been a tightly-held investment market.
AMP Capital's Global Direct Property Fund is intended to provide Australian superannuation funds with access to core and core-plus direct property investment opportunities in large, liquid and transparent offshore markets.
The fund invests in a strategic mix of international direct property assets across all the property sectors.
