As reported in The Australian newspaper, the Investa Office Fund (ASX:IOF) portfolio of offices, which is currently managed by Investa, may have another manager, with advanced talks with an institutional partner underway.
The interest by another party to manage the platform is a separate move to the recent takeover bid for Investa Office by Blackstone.
Investa Commercial Property Fund (ICPF), which is an unlisted company, owns a major stake of 20% in Investa Office but owns 100% of the management rights.
If the manager did change, Investa says that there would be no impact on the Blackstone proposal.
DEXUS Property Group (ASX:DXS) and Cromwell Group (ASX:CMW) are also involved in the office sector, and in the past have made attempts to take over Investa's office portfolio.
