Goodman Australia Industrial Fund (“GAIF” or the “Fund”), Australia’s largest wholesale industrial real estate investment vehicle, has completed a number of initiatives including an equity raising of $624 million and an extension of GAIF’s term to 2019.

Following the announcement made on 2 October 2012, GAIF investors were offered the opportunity to participate in the future of GAIF via a proposal (“the Proposal”) comprising the following key elements:

+ Opportunity to invest additional equity or seek liquidity;

+ Enhanced corporate governance through the establishment of a Securityholders Committee; and

+ Extension of the Fund term from 2015 to 2019.

The Proposal was supported by a significant majority of Unitholders at the GAIF Annual General Meeting.

A first close of the equity raising has been finalised, with gross commitments of $624 million in new equity secured from a range of existing GAIF investors and new investors seeking exposure to Australian logistics real estate. A number of investors are continuing their due diligence and are expected to complete their process in time for a second close in early 2013.

Following the first close of the equity raising, Goodman Group will hold 39% of GAIF. GAIF has enhanced its corporate governance structure as part of the Proposal, with the establishment of a Securityholders Committee (the “SC”). The SC will provide investor participation and oversight of Fund strategy and material transactions. This enhancement is consistent with Goodman’s approach to best practice corporate governance across its fund management platform.

GAIF Chairman, Greg Goodman said, “We are very pleased with the strong overall support of GAIF’s investors for this major opportunity to expand the Fund’s capital base and enhance its terms, market position and returns.

“The strength of the equity raise reflects GAIF’s high quality offering and the attractiveness of the Australian industrial property market. We are also delighted with the level of investor demand for a second close in early 2013, which will further underpin GAIF’s unique position as Australia’s largest wholesale industrial real estate investment vehicle and its ability to take advantage of the active opportunities currently available across the sector.”

- Ends -

For further information, please contact Goodman:
Gregory Goodman
Group Chief Executive Officer
Tel +61 2 9230 7400

About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, 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.

About GAIF

Goodman Australia Industrial Fund is Australia’s largest industrial fund with $4.8 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 term 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.

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States or to, or for the account or benefit of, any “U.S. person” (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”) (a “U.S. Person”)). Securities may not be offered or sold in the United States or to U.S. Persons unless the securities have been registered under the Securities Act or an exemption from registration is available.

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