Frasers Property Industrial and a Morgan Stanley Real Estate Investing (MSREI) fund have formed an Australian industrial partnership with an A$600m (€335m) fully-let portfolio of eight assets.
SGX-listed Frasers Property said the 50-50 partnership, Frasers Prime Logistics Venture, aims to capitalise on demand for premium industrial estates in key logistics hubs.
Frasers Property Industrial said the partnership with the unnamed MSREI vehicle is a first-time offering within its portfolio.
Reini Otter, CEO of Frasers Property Industrial, said: “Aligning with like-minded capital partners is crucial to our strategic goals at Frasers Property. This collaboration with MSREI allows us to leverage synergies effectively across our extensive industrial portfolio.
“Our dedication to delivering sustainable and top-tier industrial and logistics assets aligns with MSREI’s objectives, and we look forward to forging a robust, enduring partnership based on our strong pipeline and shared vision.”
Frasers Prime Logistics Venture’s portfolio includes: 4 Burilda Close, Wetherill Park, NSW; 6 Burilda Close, Wetherill Park, NSW; 4 Johnston Crescent, Horsley Park, NSW; 2 Johnston Crescent, Horsley Park, NSW; 2A Johnston Crescent, Horsley Park, NSW; 15-19 Muir Road, Chullora, NSW; 29 Fairway Street, Stapylton, QLD; and 24-60 Homestead Drive, Stapylton, QLD.
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