Global investment giant Goldman Sachs has beefed up its Australian real estate portfolio with the purchase of seven Australian last-mile delivery logistics properties.
Financial details of the investment were not disclosed, but The Australian has reported a cost of roughly A$200 million.
The properties are located in key population centres Melbourne, Brisbane and Adelaide and span over 65,000 square metres of leasable space. They are currently occupied by a range of e-commerce, transport, wholesale and third-party logistics tenants.
Goldman Sachs Alternatives has invested over A$13 billion in Australia since 2012.
Head of Asia Pacific Real Estate Nikhil Reddy says Goldman Sachs Alternatives’ continuing investment in the logistics sector are due to the growing potential of the industry across the globe.
“Logistics is an attractive sector which benefits from demographic trends and technological advancements,” Reddy says.
“Australia is especially compelling for value creation because it is supported by economic and population growth alongside historically limited supply.
“The investment highlights our continued commitment to Australian real estate and reflects our conviction in sourcing Australian last-mile logistics properties for our investors.
Last-mile logistics properties tend to be warehouses located in urban areas that manage and enable to final processing of deliveries before they reach the end customer.
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