Hines Asia Property Partners (HAPP), Hines' flagship commingled Asia Pacific core-plus fund, has acquired four logistics properties in Australia from industry property specialist Pipeclay Lawson Ltd.
Comprising a combined 58,350 square meters (628,075 square feet) in New South Wales and Queensland, the four assets mark HAPP’s first logistics acquisition in Australia, and the transaction underlines the fund’s commitment to the industrial sector.
“These four assets provide us with immediate scale and a solid foundation on which to grow our industrial and logistics platform in Australia,” said Alysia Reilly, head of industrial and logistics, Australia at Hines. “Our acquisition strategy is location driven so the fact that this portfolio was heavily weighted to Sydney was a key driver. We are actively targeting locations that fit Hines’ last-mile/urban logistics criteria and assets that we can transition into next-generation urban infill distribution centers ov
