GPT Group and QuadReal Expand Australian Logistics JV to A$ 2 Billion
Posted on 04/10/2022
The GPT Group and QuadReal Property Group had their 50:50 joint venture expand to A$ 2 billion. The partners have an objective to acquire and develop a high-quality portfolio of Australian prime logistics assets. The additional commitment follows the successful launch of the initial A$ 1 billion joint venture in February 2021. In just under twelve months the joint venture has invested in seven developments, four of which are already 75% pre-leased. Upon completion these projects will comprise a total of 3.4 million square feet of logistics space.
The GPT Group is one of Australia’s largest diversified property groups, listed on the ASX and a constituent of the S&P/ASX 50. GPT owns and manages a A$26.9 billion portfolio of logistics, office and retail property assets across Australia.
QuadReal is the real estate unit of British Columbia Investment Management Corporation.
