Mapletree Logistics invest in Park Ridge QLD27 November 2019
The Mapletree Logistics Trust has entered into arrangements to acquire 36ha of industrial land from PointCorp on Brisbane's outskirts in a deal worth about $95m.
Pointcorp began amalgamating the land over the past two years as the existing industrial precinct filled out. Mapletree have been actively acquiring logistics assets in Australia over recent years spending over $600M since 2015 on 10 assets, including $253M for the Coles Distribution Centre in Eastern Creek.
In September this year, the REIT entered in to a pre-sale and fund through agreement for a 15,000sqm warehouse in Truganina worth $18m and last year the trust paid $102, for a 2nd Coles distribution centre in Heathwood.
Mapletree are yet to make any announcements in relation to this latest acquisition which is likely to be similar pre-sale and fund through agreement.
Earlier this year, Charter Hall acquired a completed the acquisition of the 90,000sqm Metcash facility for $183.6m.