FLT to buy logistics facilities in Germany and Australia for $612.5m

These properties have a total gross lettable area of approximately 297,000sqm.

Frasers Logistics & Industrial Trust has entered into various sale and purchase agreements with subsidiaries of Frasers Property Limited (FPL) to acquire interests in nine freehold logistics properties located in Germany and three in Australia for a total of $612.5m.

The aggregate of the property purchase price of the German properties is about $493.3m, whilst the Australian properties cost $119.2m. Its aggregate consideration is at $481.8m.

These properties have a total gross lettable area of approximately 297,000sqm and are said to be located within the major logistics hubs of Germany and Australia. Its weighted average lease expiry is 8.6 years.

“The Proposed Acquisition will strengthen FLT’s attributes through geographical diversification, higher proportion of freehold properties, reduced tenant concentration and a longer WALE of 6.7 years, from 6.5 years as at 31 March 2019,” said Robert Wallace, CEO of FLT.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit