<html><body>
Dexus and GIC, Singapore’s sovereign wealth fund, have joined forces for a new unlisted trust.
The circa $2 billion fund will be known as the Dexus Australian Logistics Trust (DALT) and will look to invest in logistics properties in Australia.
The venture will be with a $1.4 billion logistics portfolio of assets mostly located in Sydney and Melbourne.
The weighted average lease expiry of the portfolio is 5.3 years with occupancy at 98%.
DALT will also add three further sites with development potential and a total future completion value of $0.5 billion.
Subject to FIRB approval, GIC will be DALT’s foundation investor, taking an initial 25% investment in the core portfolio, with put and call rights to acquire an additional 24% by June 2020.
Lee Kok Sun, Chief Investment Officer, Real Estate, said: “This investment reflects GIC’s confidence in the long-term potential of Australia’s logistics sector.
“We believe the structural and consumption growth in Australia, particularly from favourable demographics and growth in e-commerce, will continue to drive demand for logistics properties.
“This portfolio of quality assets in strong locations is well-positioned to capitalise on this and generate steady income over the long term.
“We look forward to partnering Dexus, a leading manager and developer of industrial properties in Australia, to establish and scale this venture.”
4 Turnbull Close, Greystanes, NSW (pictured above)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/26/27%20Distribution%20Drive%20Truganina%20VIC.jpg" alt="">
27 Distribution Drive, Truganina, VIC (pictured above)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/26/50%20Foundation%20Road%20Truganina%20VIC.jpg" alt="">
50 Foundation Road, Truganina, VIC (pictured above)
</body></html>

Gic

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Gic