Goldman Sachs buys Australia logistics properties to beef up actual property portfolio By Reuters
(Reuters) – Goldman Sachs Group (NYSE:)’s various investments platform stated on Tuesday it purchased seven logistics-focused properties throughout Australia to scale up its actual property portfolio.
These “last-mile” properties are positioned alongside city highways in Adelaide, Brisbane, Perth and Melbourne and are leased to e-commerce, transport and wholesale distributors, Goldman Sachs Options stated.
Final-mile logistics belongings are often properties corresponding to warehouses positioned completely in city areas that allow remaining processing of deliveries earlier than they attain the end-user.
Monetary particulars of the deal weren’t disclosed.
Goldman Sachs Options has invested greater than A$13 billion ($8.62 billion) in Australia since 2012 and has allotted A$6.2 billion on industrial belongings, workplace and industrial properties and information centres since 2017.
“This funding highlights our continued dedication to Australian actual property and displays our conviction in sourcing Australian last-mile logistics properties for our traders,” stated Nikhil Reddy, head of Asia Pacific actual property at Goldman Sachs Options. ($1 = 1.5081 Australian {dollars})
