BentallGreenOak and Partners Group have acquired a 2,307-square-meter (24,832-square-foot) site in South Brisbane, Australia, as part of the firms’ Australian build-to-rent portfolio expansion of 1,500 units, reported Australian Financial Review.
Through their local partner, investment manager GreenFort Capital, the global investors paid about A$20 million ($14.4 million) for the site at 2 Cordelia St.
The joint venture follows BentallGreenOak’s partnership with RealtyLink to develop U.S. cold storage warehouses. The first projects acquired by the venture are located near Houston and Charleston, S.C. The Houston area project will be 283,000 square feet of convertible freezer/cooler storage located in Baytown, Texas, and is actively under construction with completion scheduled for August 2022. The Charleston area project will be 300,
