LOGOS Forms a New Venture with KKR and Mubadala in Australia
Posted on 04/14/2021
LOGOS formed a new venture with private equity firm KKR and Abu Dhabi-based 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 New Zealand-based Fletcher Building Limited. The venture has a strategy to acquire and develop logistics facilities predominately across the key eastern seaboard markets including Sydney, Melbourne, and Brisbane. KKR makes its investment from its Asia Real Estate Partners fund.
According to the press release, “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 is a logistics specialist with operations across Australia, China, Singapore, Indonesia, Malaysia, Vietnam, India and New Zealand. LOGOS’ shareholders include ARA Asset Management and Ivanhoé Cambridge, a unit of CDPQ.
LOGOS seeks to re-develop the site into a master-planned logistics estate. Upon completion, the LOGOS Wacol Logistics Estate is anticipated to have an estimated value in excess of A$ 200 million.
CBRE Capital Advisors acted as financial advisor to LOGOS for the venture’s capital raising.
Image Credit: LOGOS.