Cabot Properties has added a A$137.6m (€83.4m) logistics asset to its portfoilio in Australia.
The investor said it has acquired the newly built 19,819sqm 42-52 Raymond Avenue, Matraville logistics property in the submarket of South Sydney, firm’s first acquisition in Sydney.
The development was delivered by LaSalle Investment Management, together with Hale Capital as development partner and Vaughan Constructions as the appointed builder.
Sally Box, MD of investments, Asia Pacific for Cabot Properties, said: “As an established product type across Asia but an emerging one in the Australian landscape, multi-story warehouses are attractive for many reasons – but among the most important is the increased density, which maximises land use to both enhance sustainability and increase storage capacity, ultimately supporting greater distribution capabilities.”
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