ESR establishes $94m mandate in Australia

ESR Cayman, the largest Asia Pacific–focused logistics real estate platform, has announced a new A$138 million ($94 million) mandate, ESR Office Partnership IV (EOP IV), boosting further its development in Australia. The mandate will offer investors exposure to premium core-plus business park assets in Sydney and core-plus industrial assets in prime locations across the east coast of Australia.   The seed assets for EOP IV include two best-in-class business park properties located in Sydney, with a total value of A$138 million ($94 million). ESR has introduced a number of investors into the mandate, with ESR owning a stake of approximately 11 percent.