Fraser Logistics & Industrial Trust acquires 3 Australian Assets
Singapores' Frasers Logistics & Industrial Trust has agreed to acquire three industrial assets from subsidiaries of Frasers Property Australia for $125.5 million.
The largest asset in the portfolio, a 32,894sqm facility at Eastern Creek Business Park, is worth $65.5m. The property is leased to Freight Distribution Management (FDM) Warehousing with a 5 year WALE.
The second asset, in the Kesyborough Industrial Park, Melbourne, is a 25,762sqm facility leased to Dana Australia, Pinnacle Diversity and Licensing Essentials. Frasers is paying $34.8m.
In Acacia Ridge, Brisbane, the Trust is paying $25.2m for a 15,456 sqm facility tenanted to Avery Dennison Materials and GM Kane and Sons.
The three assets are part of a 12-property portfolio which is costing the Singapore-based Frasers Logistics & Industrial Trust $644.7 million. The other nine assets are in Germany.