Goodman Australia Industrial Fund acquires Blackrock Industrial
Friday, 24 August 2012
Goodman Australia Industrial Fund (“GAIF”) is pleased to announce that it has acquired the Blackrock Industrial portfolio for A$115.2 million. The portfolio comprises seven well located assets, primarily in Sydney and Melbourne.
The most significant asset in the portfolio is the Perry Park Industrial Estate in Alexandria, New South Wales. The high quality industrial estate comprises 31,000 sqm of lettable area across 4.2 hectares of land. It is well positioned to provide superior growth through the urban renewal process currently being undertaken in the South Sydney precinct.
Greg Goodman, Chairman of GAIF, said, “We are pleased to acquire a high quality portfolio of well-located assets in GAIF’s key geographical markets of Sydney and Melbourne. The portfolio provides a number of active asset management opportunities that will enhance value for our unitholders over the short and medium term.
GAIF will fund the acquisition from its existing debt facilities and settlement is scheduled for 17 September 2012.
For further information, please contact Goodman: Mathew Werner Group Corporate Communications Manager +61 2 9230 7159
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom and North America. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.
Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long- term returns for investors.
Goodman Australia Industrial Fund is Australia’s largest industrial fund with $4.7 billion of high quality industrial and business space assets under management in all the major regions around Australia. The Fund has a weighted average lease expiry of approximately 6.0 years and an occupancy rate of 98%, with customers including blue chip companies such as Coles, Toll, Coca-Cola Amatil and Linfox.