LOGOS and TCorp Buy Two Distribution Centers from Sigma Healthcare
Posted on 08/12/2020
On August 10, 2020, LOGOS and TCorp disclosed they have acquired two high-quality distribution centres from Sigma Healthcare Limited (Sigma) in Kemps Creek, NSW and Berrinba, Queensland for A$ 172 million. The two properties are located in the logistics suburbs of Kemps Creek in Western Sydney and Berrinba in Brisbane’s south east precinct and benefit from close proximity to local key transport, infrastructure and government investment.
Per deal terms, Sigma Healthcare Limited entered into a 15-year lease agreement with two five-year options to extend, with first year lease cost just under A$ 8 million annualized. LOGOS’ Asia Pacific portfolio is made up over 100 logistics assets and operations across nine countries with a completed value of approximately A$ 13.8 billion. LOGOS’ shareholders include ARA Asset Management, an Asia Pacific real assets fund manager with S$ 110 billion in gross assets under management globally; Ivanhoé Cambridge (a unit of CDPQ) with C$ 64 billion in real estate assets globally; and LOGOS’ founders.
According to the press release, “LOGOS and TCorp’s partnership is focused on assembling a premium core logistics portfolio underpinned with high quality, well leased assets in strategic locations across Australia.”