Retail

Logos Acquires $72.4m Banksmeadow Warehouse

After launching a $500 million industrial and logistics fund earlier this year, Logos has acquired a massive 4.4-hectare warehouse site in Sydney’s south for $72.4 million in an off-market sale.

The recently purchased site is located at 2-6 Moore Street, Banksmeadow and was originally owned by a syndicate of 22 private owners who reportedly bought the site for $26.2 million in 2008.

At 4.4 hectares, Logos bought the site for $72.4 million. It is currently leased to global packaging company Orora.

Logos declined to comment specifically on the sale.

Having set up their venture to hold a $500 million investment capacity, Logos will seek to acquire and own high quality core and core plus logistics facilities in prime industrial markets. Confidence is high as the company has reportedly already identified a strong pipeline of acquisition in the industrial markets along Australia's eastern seaboard

Logos managing director John Marsh said trade flows and growth in online retailing will help to continue the market’s solid returns over the past three, five and ten years.

"Given Australia's growing exposure to online retailing, and our experience across a number of Asian markets that have experienced significant online retail growth, we're excited to be able to bring our learnings from these markets and adapt them to Australia's growth story," he said.

Logos now has $4 billion of equity commitments to 14 ventures across its five regions with target Assets Under Management of over $9 billion.

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