Aliro Group has bought two infill industrial estates in Australia from the Goodman Group for A$438m (€266.6m).
The assets are designated for the Aliro Group Industrial Vehicle (AGIV), backed by Canada’s Public Sector Pension Investment Board, which was launched last June with an ambition to hold a core portfolio of up to A$4bn.
The acquisition comprises two fully leased infill estates in Greystanes and Greenacre, located within established, land‑constrained industrial precincts with good connectivity to Greater Sydney.
David Southon, Aliro’s co-founder and executive chairman, told IPE Real Assets that AGIV, Aliro’s flagship open-ended industrial fund, targets core-plus returns through acquiring, actively managing and creating via a combination of value-add and development, high quality assets in core infill locations across the eastern seaboard of Australia.
Prior to the latest acquisition, the fund’s 12 asset portfolio had an end value of approximately A$2bn, he said, with significant additional capacity from PSP Investments’ recently committed A$800m to further build out the vehicle’s leading portfolio.
“The transaction meaningfully advances AGIV’s strategy to increase exposure to prime, land constrained Sydney infill locations with exceptional connectivity to key population centres and major transport infrastructure, supported by high quality tenant covenants, embedded value creation opportunities and strong long term demand fundamentals,” he said.
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