ESR Group and GIC have announced the extension of the core plus logistics strategy with the launch of EALP III and an equity commitment of A$600 million ($405 million).
The launch of EALP III is a follow-on of the successful predecessor partnerships of ESR Australian Logistics Partnership I (EALP I) and ESR Australian Logistics Partnership II (EALP II), which were core plus strategies between ESR Australia and GIC.
EALP I was launched in March 2020 with an equity commitment of A$600 million ($405 million) which was followed by EALP II in July 2021 with a further equity commitment of $600 million. Both vehicles have been successfully invested with a combined portfolio of 682,016 square meters (7.3 million square feet) across Australia.
“We are pleased to expand our long-term partnership with GIC on EALP III as it reflects our collective confidence in ESR’s ability to capitalize on the growing set of opportunities across APAC and especially in Australia,”
