DOWN UNDER: Charter Hall and PGGM Disclose Partnership’s 4th Investment in $800 Million Strategy

Posted on 11/11/2020

Even in Australia, the industrial and logistics sector is undergoing a long-term structural upcycle driven by significant growth in online retailing and the need for on-going supply chain efficiencies. Australia-based Charter Hall Group announces that its newly formed wholesale partnership with Dutch pension investor PGGM (CHPIP), has secured a fourth investment to bring the portfolio value to $300 million in recent months. The new CHPIP partnership is targeting a combination of core land rich investments and selective stabilized assets together with brownfield and value add opportunities including develop to core strategies.

Recent Deal

The most recent acquisition involves an industrial investment in Melbourne. The transaction is a 20 year sale and lease back at a price of $87 million. This adds to the recently settled $207 million Minto acquisition in Sydney which was acquired in a 50/50 joint venture with Charter Hall’s $6 billion Charter Hall Prime Industrial Fund (CPIF). A further acquisition in Kingsgrove, Sydney together with several long-leased assets to Ingham’s have been completed in recent times. These acquisitions provide the new CHPIP partnership with a portfolio of seven assets and an attractive 13 year WALE.

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