Frasers Logistics buys three logistics, industrial properties in Australia

Frasers Logistics & Commercial Asset Management Pte. Ltd., the manager of Frasers Logistics & Commercial Trust (FLCT) has acquired three fully leased freehold logistics and industrial properties in Truganina, Victoria, Australia from an unrelated third party, West Industry Park Pty Ltd.

The property purchase price for the new properties is A$61.0 million ($tk million). The acquisition is expected to complete by the third quarter of 2022. “This investment marks a continuing deployment of our divestment proceeds from the sale of Cross Street Exchange in Singapore and will provide FLCT with further exposure to the attractive Melbourne logistics and industrial market,” said Robert Wallace, CEO of the REIT manager. “The new properties are of smaller tenancy sizes, providing a product offering that targets a differentiated tenancy base, making the new properties a complementary fit with FLCT’s existing industrial portfolio. With the new properties being fully