ESR Australia has announce the completion of the sell down of its holding in ESR Australia Logistics Partnership (EALP), with GIC, Singapore’s sovereign wealth fund, increasing its stake to 80 percent.
ESR Australia will continue to hold a 20 percent interest in the partnership. The sell down of the remaining 35 percent of EALP is in line with the strategy outlined at the time EALP was established.
Completing the capital raising for EALP and the recent closing of ESR Australia Development Partnership (EADP), sees ESR Australia in a strong position to continue its expansion into the Australian logistics market via acquisition of income-producing assets as well as continuing to expand its development pipeline.
EALP currently has gross assets of A$750 million ($530 million) which ESR Australia expects to exceed A$1 billion ($710 million) by the end of the year.
Since inception, ESR Australia has rapidly emerged as a strong contender for securing strategic
