The Munich-based Real Estate Family Office AM alpha, which specializes in collaborations with private and institutional investors, announces the acquisition of Treasury Wine Estates’ Adelaide distribution hub for $98 million.
The 45,000-square-metre warehouse comprises a purpose-built temperature-controlled and ambient distribution facility with further development land. The building sits on almost 11 hectares and is fully leased to Treasury Wine Estates with a weighted average lease expiry of about 9.5 years. AM Alpha acquired the facility on a yield of 5.1 per cent and are advised by Realmont Property Partners who will manage the asset on their behalf.
The facility is a domestic and international distribution centre with direct rail freight to Port Adelaide and further to Melbourne, Perth and Darwin. The facility was developed and owned by SCT Logistics who operate the adjoining Intermodal Freight terminal.
AM Alpha is a globally active (multi) family office with close ties to Wolfgang Egger, founder of the listed German real estate investment firm Patrizia AG. The firm is on a global expansion track: Other investments in the Asia-Pacific region are the 179 North Quay office tower in Brisbane and the TC Beirne Building in Fortitude Valley. AM alpha is also active in Japan acquiring residential assets as well as the Axall Roppongi, an office building in the central commercial district Roppongi.
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