Charter Hall acquires A$269m industrial portfolio
Charter Hall’s leading A$6 billion (44.65 billion) wholesale industrial and logistics fund, CPIF, has acquired a portfolio of 25 cold-storage and food distribution centers, in a sale-leaseback transaction with food business PFD Food Services Pty Ltd., for A$269.4 million ($208.65 million).
The portfolio is located across Australia, with the majority of income derived from Victoria (55 percent) followed by Queensland (23 percent) and South Australia (10 percent), and 90 percent of the Portfolio (by value) is located in metropolitan industrial precincts. The portfolio has a site area of approximately 292,665 square meters (3.15 million square feet) and approximately 82,331 square meters (886,200 square feet) of gross leasable area and has a low overall site coverage ratio of 28 percent, providing CPIF with future expansion capability.
PFD Food Services is one of the largest privately owned food service distributors in Australia, delivering an extensive range of dry goo