Goodman Australia Industrial Fund (GAIF or Fund), Australia’s largest industrial real estate investment vehicle has completed its equity raising process, securing total demand in excess of $1 billion.
Following the announcement made on 11 December 2012, GAIF completed a first close of the raising with $624 million of equity secured. As highlighted, a number of investors were completing due diligence at that time, which has now been completed.
The additional demand was primarily secured from a number of existing GAIF investors, including domestic super funds and large international investors.
Goodman Group CEO and GAIF Chairman, Greg Goodman said, “We are very pleased with the strong overall support of GAIF’s investors for this major opportunity to participate in the Australian industrial property market at this point in the investment cycle.”
Following the final close of the equity raising, Goodman will hold 30% of GAIF which is consistent with its long-term target holding range.