LOGOS Property grows Asset Management through the acquisition of three new properties for GIC Real Estate

Media
Sunday 1st June 2014

LOGOS Property (LOGOS) is pleased to announce that it has increased its Assets Under Management with the addition of three prime logistics properties, located in Melbourne and Brisbane, to its asset management portfolio. The three assets will be  acquired by an affiliate of GIC Real Estate Pte Ltd, the real estate arm of the Government of Singapore Investment Corporation (GIC) from Vaughan Constructions and Radius Industrial Pty Ltd, a joint venture between the George Group and the Potter Group.

Logos Executive Director, Trent Iliffe, said ?Logos is continuing to build its asset and development management platform by growing the prime logistics real estate portfolios under its management. We remain focused on major logistics operators in prime logistics locations around Australia. We continue to see good deal flow in the Australian industrial market.? and have the ability to capitalise on these opportunities. This acquisition, when completed, will increase Assets Under Management by approximately 85,000m² and further enhance the quality of the direct logistics portfolio currently under management.

Logos Executive Director, John Marsh, said ?Since its establishment, Logos has identified a significant pipeline of logistics property acquisitions and development opportunities.  We are working with a number of development partners around Australia to grow our development pipeline. These groups range from private to institutional land owners, who have well located sites at competitive pricing, therefore enabling us to develop at competitive rental levels.?

Greg Cohen and Matt Haddon from CB Richard Ellis acted for Vaughan constructions on the sale of the two Melbourne assets. Colliers International?s Simon Beirne and Troy Whalan acted for the George Group on the sale of the Brisbane asset.

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