Goodman Australia Industrial Fund (“GAIF”) is pleased to announce that it has acquired the Blackrock Industrial portfolio for A$115.2 million. The portfolio comprises seven well located assets, primarily in Sydney and Melbourne.
The most significant asset in the portfolio is the Perry Park Industrial Estate in Alexandria, New South Wales. The high quality industrial estate comprises 31,000 sqm of lettable area across 4.2 hectares of land. It is well positioned to provide superior growth through the urban renewal process currently being undertaken in the South Sydney precinct.
Greg Goodman, Chairman of GAIF, said, “We are pleased to acquire a high quality portfolio of well-located assets in GAIF’s key geographical markets of Sydney and Melbourne. The portfolio provides a number of active asset management opportunities that will enhance value for our unitholders over the short and medium term.
GAIF will fund the acquisition from its existing debt facilities and settlement is scheduled for 17 September 2012.