Blackstone has bought an A$89.6m (€52m) industrial complex in northeastern Australia from a fund managed by Goodman Group.
Blackstone has acquired the 40,000sqm Arcadia Industrial Estate in Coopers Plains, Brisbane, via its last-mile logistics strategy.
The estate comprises nine single-level buildings providing warehouse and office spaces, including some with split tenancies.
Goodman has owned the property, previously held in the Macqaurie Goodman Industrial Trust, since 2003, when it was bought for A$16.5m.
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