Australian investment manager Gateway Capital has brought a A$60.75m (€35m) industrial asset in Brisbane for its new logistics fund.
With the latest acquisition, the Gateway Capital Industrial and Logistics Partnership’s (GILP) portfolio now has A$336m worth of assets.
This acquisition represents the fifth asset to be added to the GILP fund, which was established earlier this year with support from leading institutional investors, aiming to build out a A$800m core and core-plus portfolio.
Stuart Dawes, Gateway Capital CEO, said: “This asset follows the recent acquisition in Geebung for the same fund, providing an increased exposure to the strong Queensland market. Following these acquisitions the fund has an attractive portfolio composition with over half the portfolio located in Sydney and almost 40% allocated to Brisbane.
“GILP will continue to seek attractive acquisition opportunities where medium term rent reversion provides strong investment fundamentals in prime-grade assets.”
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