EG adds Brisbane industrial estate to diversified fund
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EG paid $32 million for the 2.4-hectare estate at 140 Wecker Road in Mansfield. The property was acquired for EGâs Australian Core Enhanced Fund, which targets investments in the office, retail and industrial sector offering higher returns through repositioning assets.
The multi-tenanted industrial estate acquired by EG for its ACE Fund. Â
It is the fifth property acquired for the ACE Fund. In December, EG paid $48.75 million for a Bunnings warehouse in Rockdale near Sydney Airport on a yield of 5.4 per cent.
The Wecker Road property was sold to EG by Brisbane-based investment company Pacific Properties. Pacific developed the site into 24 office/warehouse units ranging in size from 200 to 2000 square metres.
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