Frasers Logistics and Industrial Trust nabs prime Aussie properties for $71.2m

The real estates are already fully pre-committed to incoming tenants.

Frasers Logistics and Industrial Trust (FLT) nipped two logistics and industrial properties in Melbourne and Brisbane in Australia, enlarging its quality asset portfolio for a purchase consideration of around S$71.2 million (A$69.2 million).

The real estate business revealed that the acquisition works on a call option basis and that the properties have been completed ahead of schedule. Both are also 100% pre-committed to incoming tenants.

Following the purchase, the appraised value of FLT’s quality portfolio will increase by 4.4% to an aggregate of about S$1,701.5 million (A$1,654.2 million), and FLT’s enlarged portfolio will comprise a total of 53 high quality industrial properties with a GLA of around 1.21 million square metres, the company said.