Charter Hall $600M Equity Raising

29 November 2018

Charter Hall have raised a further $600M of equity from local and international institutional investors for their Prime Industrial Fund, which will take the fund to over $4.0 Billion once fully invested along side debt. In a sign that equity flows to Australia are still very strong, 60% of the capital was from new investors across Australia, Japan, Korea, Singapore, Britain and Europe. The fund currently holds $3.0 Billion of assets with $700m of debt across 53 properties. The current WALE for the fund is 8.9yrs and the WACR is 6.0%. The fresh capital will be directed into developing the unlisted fund’s existing land bank and enhancing current assets. It will also give the fund more firepower for further acquisitions of industrial and logistics facilities. In 2018, the Fund acquired five assets for $370m, including Hastings Deering portfolio at Acacia Ridge QLD and a newly built Coca Cola facility at Richlands QLD both with triple net lease terms of 20 years. The fund also acquired a strategic 58.8 hectare land parcel in Truganina VIC which is expected to deliver 250,000sqm of GLA on completion. This month the fund also invested in two key training facilities for the Australian Border Force and the Australian Federal Police in a deal worth almost $120 million. #CharterHall