Frasers Property and Morgan Stanley Real Estate Investing’s (MSREI) Australian industrial partnership has added nine assets valued at A$500m (€284m).
Four of the facilities will be held in a newly established joint venture, Frasers Logistics Partnership. The remaining five properties, including one under investment, will be added to the partners’ first venture, the Frasers Prime Logistics Venture, which was established seven months ago.
Together, the two ventures have an expanded portfolio, increasing the total size of the portfolio to approximately 300,000sqm and its value to around A$800m. The combined value of Frasers Property’s capital partnership with MSREI will increase to approximately A$1.4bn.
Reini Otter, chief executive officer, Frasers Property Industrial, said: “Earlier this year, we outlined our strategy to establish long-term capital to unlock opportunities across Frasers Property’s industrial portfolio.
“The latest milestone reflects the strength of that strategy and the alignment we’ve found with partners like MSREI, positioning us for scalable growth.”
Ian Barter, managing director, Australia, Frasers Property Industrial, said: “It’s fantastic to see our capital partnership strategy gaining traction.
“This second venture with MSREI demonstrates the value of our build-to-core approach and our ability to deliver premium industrial assets, while accelerating development and optimising capital efficiency.”
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