Australian property manager Charter Hall has acquired a A$300m (€187m) portfolio of six Brisbane industrial assets from Garda Property on behalf of an unlisted fund.
The portfolio comprises approximately 90,600sqm of predominantly modern industrial space across established Brisbane logistics hubs, including Acacia Ridge, Wacol, Berrinba, Morningside and Richlands.
Richard Stacker, CEO of Charter Hall industrial & logistics, said the acquisition is consistent with the firm’s strategy to “upweight our exposure to Brisbane and build scale in established industrial precincts where we see strong long-term fundamentals”.
Together with recent acquisitions of prime industrial assets leased to Australia Post, Symbion and PrixCar, the firm’s industrial and logistics platform has acquired approximately A$500m of assets, Stacker added.
Charter Hall managing director & group CEO, David Harrison, said: “These acquisitions continue our long-term strategy of securing high-quality assets, often off-market, from vendors who value Charter Hall’s execution capability and the capacity of our platform.
“Together with the recent expansion of our cross-sector platform in Queensland, these acquisitions will see Charter Hall’s property funds under management in the state grow to approximately A$15bn.”
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