Hong Kong-based venture capital firm PAG has divested its 50 percent stake in a Sydney office complex to U.S.-based asset management firm Blackstone.

Blackstone paid A$400 million ($287.2 million) for the stake in the tower, valuing the complex at $574.5 million.

In 2015, PAG bought the asset from an Australian investment firm MTTA for $215.5 million.

As a result of the deal, Australian real estate developer Mirvac, co-owner of the office property, will provide $45.2 million junior debt funding to Blackstone and provide investment and property management services.