ESR Australia buys $221m logistics portfolio
ESR Australia has announced that ESR Australia Logistics Partnership (EALP) has purchased a portfolio comprising 11 assets primarily located in Australia’s eastern seaboard cities of Sydney, Melbourne and Brisbane. The sales price was A$302.5 million ($221 million).
The seller was Propertylink Australian Industrial Partnership II, an ESR-managed partnership.
The purchase of this portfolio of assets takes the gross assets of EALP to more than A$1 billion ($730 million) and totals 36 properties with 500,000 square meters (5.4 million square feet) of space.