Australian manager Centuria Capital and global investor have bought three warehouses in Western Sydney for A$201m (鈧�115m).
BGO will have a 95% ownership with Centuria holding 5% of the 45,000sqm asset. Centuria will be the investment and property manager for its partner.
Australian company, Cliffbrook Capital, represents BGO in the Australian market.
Jason Huljich, Centuria Joint CEO, said: 鈥淭his type of institutional partnership speaks to the strong appetite from international capital seeking to harness the domestic industrial sector tailwinds, particularly within infill markets which benefit from proximity to households and businesses alike.鈥�
Jesse Curtis, Centuria head of funds management, said: 鈥淭his Western Sydney portfolio again illustrates Centuria鈥檚 ability to secure rare, off-market quality assets for our institutional partners.
鈥淲ith Australia鈥檚 burgeoning population increasing demand from the industrial and logistic sector, coupled with limited new supply within infill markets, we believe macroeconomic tailwinds for the sector will persist throughout the medium term.鈥�
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