Joint venture partners MaxCap Group and Troon Group have secured a A$400 million ($264 million) development pipeline in Melbourne’s Inner South-East suburbs. The joint venture partners have confirmed the acquisition of a substantial parcel of existing industrial properties in Cheltenham as well as securing planning approval for a new industrial estate at their site in Clayton South.
Mingtiandi reported the sellers were a joint venture between an affiliate of Starwood Capital and Sydney-based Arrow Capital Partners. And the sales price for the portfolio of seven logistics properties near Sydney and Melbourne for A$166.8 million ($110 million).
The newly acquired Cheltenham properties, offering extensive frontage to Bay Road and Wangara Road, represent a sizable holding of 5.5 hectares (13.6 acres) of commercial 2 zoned land with
