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Sign in Sign up for a FREE subscriptionMIRVAC, ART form $248m industrial venture
MIRVAC and Australia’s second-biggest super fund Australian Retirement Trust (ART), totaling A$240 billion ($160 billion) AUM, have launched the A$370 million ($248 million) Mirvac Industrial Venture, to be seeded by the 72,000 square-meter (775,000-square-foot) Switchyard development in Auburn, New South Wales, Australia, located 10 miles west of the Sydney central business district.
ART, an existing capital partner of Mirvac, will invest 49 percent in the industrial/logistics venture, with Mirvac to retain the remaining 51 percent.
The Switchyard development has plans to be completed first quarter 2024.
