Macquarie Office Trust (MOF)

Stock Code

MOF

Stock Exchange

Australian Securities Exchange

Macquarie Office Trust (MOF) is one of the leading owners of office properties in Australia and since it’s an investment trust, its business is primarily engaged in property investment in some of the principal office buildings in Australia, USA and Europe. MOF was listed on the Australian Stock Exchange on the 9th of December 1993. Its average annual revenue reaches approximately AUD$600 million. Its headquarters is located in Sydney, Australia. Macquarie Office Management under the real estate division of the Macquarie Bank Group is the one in charge of the management of the Macquarie Office Trust.

The Macquarie Office Trust offers different services such as overseeing tenancy fit-outs through engineering expertise, development activities, environmental sustainability, and regulatory compliance of properties as well as due diligence services.

The Macquarie Office Trust offers asset management services through different divisions. In Australia, these services are delivered by the Macquarie Asset Services (MASL) and to oversee the investments in the US, the Macquarie Real Estate in the country facilitates in the portfolio management services and MOF provides assets services in Europe through the Macquarie Real Estate Group, a growing division of the MOF. All these groups work with the management for the development and the execution of business plans for different properties. These plans include the strategies for capital expenditure, leasing, selling and holding assets, rental growth, refurbishment, management contracts and maintenance.

In MOF’s US operation, the management of the assets should comply with the agreement made with the company’s partners; the Principal Real Estate Investors (PREI), Maguire Properties (Maguire and the Brandywine Asset Management under the guidance of the portfolio management team in the US.

Macquarie Office Trust (MOF) Company History

As part of the Macquarie Bank, the Macquarie Office Trust (MOF) actually originated from the Hill Samuel Australia (HSA). It was established in 1969 and started its operations in 1970 in Sydney with only three staff. It was in 1981 when HSA became a trading bank and in 1985, HSA was changed to Macquarie Bank as per the order given by the Federal Treasurer. Finally in 1985, all the existing activities of HAS were transferred to Macquarie Bank starting with one branch in Sydney. Macquarie Bank has established several subsidiaries over the years and one of them was the Macquarie Office Trust (MOF).

In 2004, Macquarie Office proposed to buy the Principal Office Trust amounting to $597 million for its US market expansion. A year after, the company made an announcement of its purchase plan for the funding of the acquisition of 30 Independence Boulevard in New Jersey US as part of the US market expansion.

In January 2006, Macquarie Office (MOF) made a joint venture with Maguire Properties, a leading landlord in the Southern California. This venture cost the company an amount of AUD$1.6 billion. It was in August 2006 when the company appointed Ross Satterwhite as the Head of the Trust Division in North America market.

Once again in December 2006, Macquarie Office Trust made an investment on one of the best office buildings in Berlin, Germany.