Singapore’s Frasers Property has increased its exposure to core logistics properties in continental Europe with the acquisition of a 46,000sqm portfolio in Austria.

Frasers Property Europe said it bought the logistics portfolio from Tristan Capital Partners and its joint venture partner for an undisclosed sum.

The property portfolio consists of three institutional grade logistics warehouses in Austria.

Two of the properties are located on the grounds of the Vienna International Airport’s cargo zone. The third property is located in Graz.

Frasers Property Europe - which manages a portfolio of €1.5bn assets - said its strategy is to continue acquiring and developing state-of-the-art logistics properties in its three core markets Germany, Austria and the Netherlands.