Goodman Australia Partnership (GAP) is a special purpose investment vehicle that was launched in March 2011 via the acquisition of the ING Industrial Fund (IIF).
The Partnership has a mandate to invest in quality logistics and business park assets within the Eastern seaboard of Australia focused on providing its investors with stable annual total returns.
The performance of the Partnership is underpinned by earnings growth driven by long leases attached to quality covenants and capital appreciation through the build out of the Partnership's expansive land bank, capitalising on change of use opportunities in addition to the Partnership's proactive Management approach.
GAP’s portfolio comprises of 43 assets with a combined value of $3.6 billion. The Australian stabilised properties account for 94% of the portfolio with 3% currently under development or held as land. The remaining 3% of the portfolio is based in Europe.
Since inception, the Partnership has committed to over 750,000 sqm across 38 developments increasing the portfolio in excess of $1.1 billion, supporting superior income and capital returns to the Partners over the investment period.
GAP has a strong partnership approach with its international investor base providing c.$1.7 billion in equity commitments to the Trust supported by a $1.3 billion debt platform.
The Partnership's investor base comprises three global investors, Canada Pension Plan Investment Board (CPPIB), All Pensions Group (APG), China Investment Corporation (CIC) in partnership with Goodman (GMG).
|Total Assets||A$3.8 billion|
|Number of Properties||43|
|Weighted Average cap rate||6.28%|
|1. All figures as at 31 December 2016|