LOGOS, KKR and Mubadala to acquire and develop logistics facilities across Australia16 April 2021
LOGOS is pleased to announce it has established a new venture with KKR and Mubadala Investment Company for the development of modern, high-quality logistics facilities across Australia.
LOGOS has seeded the venture with an 18.2 hectare development site in Wacol, Brisbane acquired from Fletcher Building.
The venture has a strategy to acquire and develop logistics facilities predominately across the key eastern seaboard markets including Sydney, Melbourne and Brisbane.
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes.
Located at 3746 Ipswich Road, Wacol, the venture’s seed property offers immediate exposure and access to Brisbane’s key arterial road network being positioned at the interchange of the Ipswich and Logan Motorways, 23kms southwest of the Brisbane CBD.
LOGOS has commenced plans to re-develop the site into a master-planned logistics estate on both a pre-lease and speculative basis with up to 95,000 sqm of GLA. Upon completion, the LOGOS Wacol Logistics Estate is anticipated to have an estimated value in excess of A$200 million.
LOGOS’ Head of Australia and New Zealand, Darren Searle, said: “We are pleased to have established a new venture with experienced global investors, KKR and Mubadala, enabling LOGOS to continue to meet the ever growing demand from global, multi-national and domestic customers for high-quality logistics facilities within Australia.
“We see the Wacol property as a strategic seed asset for this venture and are pleased to have facilitated this transaction from Fletcher Building, with whom we have a long-standing relationship,” he added.
KKR makes its investment from its Asia Real Estate Partners fund.
CBRE Capital Advisors acted as financial advisor to LOGOS for the venture’s capital raising. The capital raise was led by Greg Hyland, Head of Capital Markets for Asia Pacific and Stuart McCann, Head of International Capital – Pacific and South East Asia.