ESR have claimed success in 2020 and promised more to come as the business prepares to invest additional capital into the region.
In a statement to clients today, ESR reported significant progress across all facets of the business.
In 2020, ESR’s funds management business launched two new investment vehicles and raised $2.5bill in equity capital. This included the flagship ESR Australia Logistics Partnership (EALP) which raised $1 billion in capital, in addition to a $400m capital partnership for ESR Australia Development Partnership (EADP).
Closing EALP also enabled the vehicle to purchase a portfolio from another investment fund that ESR Australia managed, bringing EALP’s AUM to over $1 billion.
The capital raisings provided funds for the expansion of ESR land bank to 159ha in strategic pockets of Australia’s eastern seaboard including Acacia Ridge in Queensland and Cranbourne in Victoria, taking the groups development pipeline to $1.89 billion.
The development function oversaw the launch of numerous new ESR Australia estates and development projects and the property and asset management team secured several strategic acquisitions, managing the portfolio to maintain occupancy and help customers affected by the pandemic.
In 2020, ESR commenced works on over 100,000 sqm of industrial and logistics development projects and completed 61 leasing deals for over 150,000 sqm, for customers such as DHL, BWX, SKIA Australia, TTW, Australia Post, Toll, New Age Caravans and LifeHealthcare.
ESR remain refocused on its core competencies, and divested its construction arm in a management buyout.
The year was also marked by the completion of several premier commercial offerings, 73 Miller Street, North Sydney, and Stage 1 of Wellington Place in Mulgrave.
The ESR Australia team grew this year with some important appointments. Matthew Lawson joined as Deputy Chief Financial Officer, kicking off the succession planning for current CFO, Tony Groth. ESR also appointed General Managers in QLD, NSW and VIC to oversee the development projects in these states.
In 2021, the Group is looking forward to 2021 and the launch of two key projects, ESR Horsley Logistics Park in Western Sydney and ESR Clayton Business Park in Melbourne in Q1 2021.
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