Blackstone has sold an industrial asset in Australia to Singapore’s Mapletree Logistics Trust for A$114m (€68m), bringing its total disposal this week to more than A$204m.
Mapletree said the purchase of the fully-leased asset at 333 Bradman Street, part of the Acacia Ridge industrial estate in Brisbane, would increase its portfolio in Queensland to three properties and 13 across Australia.
Earlier this week, Blackstone sold the Acacia Ridge Distribution Centre to the GIC-backed ESR Australia Development Partnership for more than A$90m. ESR bought 1502 Beaudesert Road, an infill site, which it plans to develop into a A$200m logistics estate with potential for a total gross floor area of approximately 100,000sqm.
Blackstone is one of the largest owners of logistics assets in Australia holding a portfolio, worth between A$700m and A$800m.
To read the digital edition of the latest IPE Real Assets magazine click here.