ESR Partners, GIC to launch ESR Australia Logistics Partnership III

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,”