AEW makes first logistics acquisition in Asia Pacific
AEW Capital Management has acquired two newly developed, state-of-the-art logistics facilities in Australia for a total price of A$117.7 million ($87 million). This marks the group’s first investment into the logistics sector in Asia Pacific.
The properties are located in core industrial precincts in the Melbourne and Adelaide submarkets, with excellent connectivity and direct access to major transport networks and freight corridors. One of the logistics developments is located in Dandenong South, a prime industrial market approximately 40 kilometers (25 miles) southeast of the Melbourne CBD in Victoria, and the other is located in the northern industrial suburb of Edinburgh Parks, approximately 25 kilometers (15 miles) north of the Adelaide CBD in South Australia.
Planned investment in infrastructure is set to be delivered in both precincts in the short to medium term, which AEW expects will further enhance the supply chain network and overall attractiveness of thes