Trilogy Funds Management has snapped up a south east Melbourne office/warehouse off market.
The Carrum Downs property, 118 Colemans Road, was developed by Salta and is tenanted to mattress maker Tempur.
The sale price – $10.025m – reflects a 5.5 per cent yield.
Cushman & Wakefield’s Andrew O’Connell and Robert Colaneri marketed the 5560 sqm facility.
The 1.3 hectare site is exposed to Eastlink (story continues below).
The deal comes four months since Trilogy sold Aviator Capital an Ipswich investment, Tower Central, for $25m.
Early last year the fund manager, for its Trilogy Industrial Property Trust, spent $12.05m on a Carrara asset tenanted to EDI Limited subsidiary CPG Resources.
That deal was struck at a 6.86pc return.
Subscribe to our newsletter at the bottom of this page.