GPT Pick up More Logistics

GPT have ramped up their efforts to diversify their balance sheet with the acquisition of $212M of industrial assets in recent weeks. The recent purchases include a series of 3 industrial assets being sold by AMP Capital at Kingsgrove, Villawood and Blacktown. The sale price of $105M provides GPT a blended yield of 5.6% across 50,000sqm of NLA. GPT also acquired 2 industrial buildings for $107M in Erskine Park which include a 25,400 sq m and a 12,300 sq m warehouse, both built in 2009, and which are next to GPT’s 24-hectare Connect@Erskine Park logistics precinct. #GPT #Industrial