Goodman’s AUD1.49bn (€980m) purchase of a portfolio of Brazilian industrial properties has collapsed, it has announced.

The group’s Brazilian joint venture WTGoodman was due to buy the portfolio from seller BR Properties.

Goodman said BR, a developer, had now chosen another buyer.

Late last year, WTGoodman, a joint venture between Goodman and WTorre, announced it was in due diligence on the 34-asset portfolio.

Goodman said it would “continue to pursue its opportunities in Brazil in a prudent manner”.