LOGOS, KKR and Mubadala Investments have formed a partnership to develop Australian east coast logistics centres.
The trio has acquired the prominent 18.2 hectare Rocla site in Wacol for its first venture.
AT 3720-3746 Ipswich Road – at the north east corner of the Logan Motorway – c95,000 square metres of product planned.
A development application was lodged last December.
The Wacol site is 23 kilometres south west of Brisbane.
LOGOS Wacol Logistics Estate
The master-planned estate is expected to contain stock worth more than $200 billion.
“We are pleased to have established a new venture with experienced global investors, KKR and Mubadala, enabling LOGOS to continue to meet the ever-growing demand from global, multi-national and domestic customers for high quality logistics facilities within Australia,” according to LOGOS head of Australia and New Zealand, Darren Searle (story continues below).
“We see the Wacol property as a strategic seed asset for this venture and are pleased to have facilitated this transaction from Fletcher Building [Rocla’s parent since 2005], with whom we have a long-standing relationship,” he said.
“The venture has a strategy to acquire and develop logistics facilities predominantly across the key eastern seaboard markets”.
KKR is investing via its Asia Real Estate Partners Fund.
Mubadala – a United Arab Emirates sovereign fund – holds $A300b of businesses and investments over six continents.
It has offshore offices too, including in Beijing, London, New York, Moscow and San Francisco.
Last month it partnered with the UK government to deliver £800 ($A1.4b) of health and technology real estate, green energy and infrastructure, over five years.