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ESR Australia expands logistics strategy, launches $444m EALP II
View of Melbourne, Australia at night
July 30, 2021
Industrial real estate platform ESR Australia is expanding its core plus logistics strategy in the country by committing A$600 million ($444 million) into the newly-launched ESR Australia Logistics Partnerships II (EALP II).
The firm said EALP II is an extension of the successful EALP I, whose initial A$600 million equity commitment is nearly fully utilised.
EALP’s portfolio currently comprises 33 income-producing properties, two land parcels for future development, and another two properties which are currently under development.
About A$480 million of the initial commitment to the second core-plus logistics strategy comes from investors, which, according to an IPE report, likely included Singapore sovereign wealth fund GIC.