Macquarie Goodman is building up its third party funds management business and recycling capital by selling a portfolio of properties to the Macquarie Goodman Australian Wholesale Fund for $147.8 million.
MGW has exercised its right of refusal to buy six properties portfolio from Macquarie Goodman.
The portfolio includes three completed office/warehouse facilities at Queensport Quays Business Park and three warehouse/distribution facilities leased by ACI Packaging in Sydney, Melbourne and Brisbane.
Macquarie Goodman will also sell three new development projects to be undertaken by MGW for $77 million.
In total the three properties located in NSW, QLD and Vic will provide facilities for customers such as Toll and Metcash.
Macquarie Goodman Australia chief executive David van Aanholt said the development activities remain robust in the region with ongoing demand from customers.
“The Group has the ability to deploy capital across a wide variety of markets and is currently observing numerous opportunities. Coupled with the recent equity raising, the Group is in a strong position to capitalise on these opportunities as they arise,” Macquarie Goodman chief executive Gregory Goodman said.
Following the acquisition and completion of the developments, MGW will comprise a portfolio of 41 properties valued at approximately $1.4 billion.
MGW has also entered into agreements to buy a number of land parcels from other vendors on a pre-leased basis which Macquarie Goodman has sourced and to which it will provide development services.
By Adam Parsons
