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Goodman Australia Partnership (GAP)

Goodman Australia Partnership (GAP) is a special purpose investment vehicle that was launched in March 2011 via the acquisition of the ING Industrial Fund (IIF).

The Partnership has a mandate to invest in quality logistics and business park assets within the Eastern seaboard of Australia focused on providing its investors with stable annual total returns.

The performance of the Partnership is underpinned by earnings growth driven by long leases attached to quality covenants and capital appreciation through the build out of the Partnership's expansive land bank, capitalising on change of use opportunities in addition to the Partnership's proactive Management approach.

GAP’s portfolio comprises of 56 assets with a combined value of $3.6 billion. The Australian stabilised properties account for 87% of the portfolio with 5% currently under development or held as land. The remaining 8% of the portfolio is based in Europe.

Since inception, the Partnership has committed to over 500,000 sqm across 26 developments increasing the portfolio in excess of $850 million, supporting superior income and capital returns to the Partners over the investment period.

GAP has a strong partnership approach with its international investor base providing c.$1.7 billion in equity commitments to the Trust supported by a $1.3 billion debt platform.

The Partnership's investor base comprises three global investors, Canada Pension Plan Investment Board (CPPIB), All Pensions Group (APG), China Investment Corporation (CIC) in partnership with Goodman (GMG).

Key Stats
Total Assets A$3.6 billion
Gearing 31.1%
Number of Properties 56
Occupancy 96.3%
Weighted Average cap rate 7.3%
1. All figures as at 30 June 2015

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