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Sign in Sign up for a FREE subscriptionEG expands Australian core enhanced fund with Queensland industrial estate
EG, an Australian real estate fund manager, has acquired a multitenant industrial estate at 140 Wecker Road in Mansfield, Australia, for A$32 million ($25 million). The asset is the fifth acquired for EG’s growing Australian Core Enhanced Fund (ACE) since it launched in June 2019.
The property is in the inner urban industrial precinct of Mansfield, 12 kilometers (7.4 miles) southeast of the Brisbane CBD and 14 kilometers (8.7 miles) from Brisbane airport and Port of Brisbane. Other major occupiers in the industrial precinct include Australia Post, Toll and Storage King. The asset is currently 95 percent occupied.
“The asset fits well with the fund’s strategy to acquire industrial assets in land constrained markets with strong leasing fundamentals,” said Michael Noblet, EG’s ACE fund manager.
EG ACE is an open-end diversified fund targeting office, industrial and retail real estate in Australia. The fund’s strategy is to acquire well-located assets wh
