Brookfield, through its real estate strategy, has entered into an agreement to acquire a logistics facility at 30–50 Yarrawa St., Prestons, in southwest Sydney, from Goodman Group for A$203.5 million ($138.87 million), with settlement of the transaction to occur later in November.
The acquisition represents a compelling investment opportunity within one of Sydney’s most tightly held, infill industrial precincts, secured below replacement cost.
It is supported by significant structural land constraints that are expected to further exacerbate the existing supply/demand imbalance, place downward pressure on vacancy rates and underpin strong market rental growth.
The 45,780-square-meter (492,771-square-foot) distribution facility is situated within a core Syd-ney logistics precinct adjacent to the M7 motorway and within proximity to Sydney’s broader arterial road networks providing direct connectivity to the Moorebank intermodal, Sydney’s two commercial airp
