ARA LOGOS Logistics Trust Deepens Strategic Presence in Australia with Maiden Portfolio Acquisition Post Rebranding
October 26, 2020 – ARA LOGOS Logistics Trust Management Limited, the manager of ARA LOGOS Logistics Trust announced the proposed acquisitions from LOGOS Property Group Limited’s (“LOGOS”) managed ventures, namely:
- the acquisition of five logistics properties located in Brisbane, Australia, including a development asset, Corner Heron Drive and Curlew Street, Port of Brisbane, which will have an approximate purchase consideration of S$225.9 million; and
- the fund investment in 49.5% interest in New LAIVS Trust and 40.0% interest in Oxford Property Fund, which have a combined portfolio of five logistics properties in New South Wales and Victoria, Australia, for a consideration amount of approximately S$178.5 million;
The total aggregate consideration of the Proposed Acquisitions and Fund Investments is approximately S$404.4 million (excluding stamp duty and other transaction expenses).
Commenting on the Proposed Acquisitions and Fund Investments, Ms Karen Lee, Chief Executive Officer of the Manager, said: “This is a transformational acquisition for ALOG as it expands our footprint across key economic hubs in the East Coast of Australia and paves the way for our next chapter of growth under LOGOS’ sponsorship.”
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