UniSuper buys stake in industrial portfolio from Korean pension fund
The A$120 billion ($80 billion) Australian superannuation fund UniSuper has taken a 50 percent stake in a portfolio of industrial and logistics assets across Sydney and Melbourne in a deal worth more than $500 million.
UniSuper acquired half ownership in the 20 assets from the National Pension Service of Korea. UniSuper joins existing co-owners Dexus and Blackstone in the venture.
About 12 of the assets are in the Quarry Industrial Estate in Greater Western Sydney, with the remainder in Truganina, 12 miles west of Melbourne.