Charter Hall Group has extended its relationship with global institutional investor Allianz Real Estate, through expansion of the 50/50 joint venture between Charter Hall Prime Industrial Fund (CPIF) and Allianz Real Estate, acting on behalf of several Allianz group companies, to acquire a further two ALDI distribution center assets located in Derrimut, Melbourne and Staplyton-Yatala, Brisbane, for A$281.5 million ($209.54 million).
This expands on the joint venture’s initial A$648 million ($482.36 million) acquisition in June 2020 of four ALDI leased logistics assets.
The portfolio comprises 106,614 square meters (1.15 million square feet) upon a total combined site area of 309,900 square meters (3.34 million square feet) and benefits from a low overall site coverage ratio of 34 percent, providing good flexibility for future development expansion or reconfiguration to future-proof the assets.
The Melbourne logistics facility is located within the prime industri
