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Sign in Sign up for a FREE subscriptionLOGOS JV buys two distribution centers
LOGOS and its partner TCorp, the New South Wales state government’s investment and financial management arm, has acquired two distribution centers in Kemps Creek, NSW and Berrinbal, Queensland, Australia, reported media outlets.
The seller is one of Australia’s largest pharmaceutical suppliers and retailers, Sigma Healthcare. The sales price was A$172 million ($123 million).
The distribution centers will be leased back to Sigma under a 15-year agreement.
It is the first joint venture between Logos and TCorp, which, in March, appointed LendLease to manage its A$1.6 billion ($1.15 billion) property mandate.
