Australian property group Stockland has formed two new partnerships, one with M&G Real Estate and the other with KKR, with an initial focus on investing A$800m (€487m) in logistics assets across Australia.
The Stockland M&G Asia Property Trust, a 50/50 open-ended partnership, is seeded with the A$415m Ingleburn Logistics Park in Sydney. The Stockland Logistics Partnership Trust, a 70/30 open-ended core-plus partnership with KKR, is seeded with three Sydney logistics assets valued at approximately A$388m.
Unveiling the partnerships during the company’s results presentation, Tarun Gupta, Stockland’s managing director and group chief executive, said he was delighted to have two globally recognised capital partners joining the Stockland logistics platform.
Kylie O’Connor, Stockland’s CEO of investment management, said Stockland now has seven partnerships across the workplace, residential and logistics portfolios.
These include the Stockland Land Lease Partnership with Invesco, Stockland communities and rental residential partnerships with Mitsubishi Estate Asia and the M-Park Trust, a science and technology park with Ivanhoe Cambridge.
CBRE was the exclusively adviser to Stockland on the establishment of two new, core and core-plus logistics capital partnerships.
“These partnerships highlight the increased levels of core and core-plus capital returning to markets in Australia, as capitalisation rates have stabilised and strong rental growth dynamics continue to drive attractive returns,” Stuart McCann, CBRE’s head of international capital.
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