AMP Capital acquires Australian industrial portfolio for A$250m
AMP Capital Diversified Property Fund has acquired a portfolio of industrial assets in Sydney for A$250 million ($184 million).
“Our research shows that the Sydney industrial market will continue to perform due to the strengthening state economy, with both the market and assets poised to benefit from ongoing significant infrastructure investment,” said Kylie O’Connor, ADPF fund manager, in a statement.
The portfolio comprises six high-quality, Sydney-based warehouse/logistics assets, located in a mix of core and infill locations with future urbanization potential and proximity to existing and proposed infrastructure. All assets are located within land-constrained markets, supporting future rental and capital growth prospects, according to AMP Capital.
Manufacturing recorded a sharp increase in demand for industrial space during first quarter 2016, according to Savills’s Briefing Sydney Industrial Q1/2016. The inv