Hines fund makes first logistics acquisition in Australia

Hines fund makes first logistics acquisition in Australia
13 Ferndell Street, South Granville NSW Image: Hines

Hines Asia Property Partners (HAPP) fund has made its first investment in Australia with the acquisition of four logistics properties in New South Wales and Queensland from Pipeclay Lawson Ltd.

The four assets, totaling 58,350 square metres, mark HAPP’s first logistics acquisition in Australia.

Three of the properties are in large land sites in western Sydney (68 Anzac Street, Chullora; 13 Ferndell Street, South Granville; 128 Russell Street, Emu Plains) and the fourth in Brisbane’s Trade Coast precinct (55 Brownlee Street, Pinkenba). These are two of the highest performing industrial markets in the country with immediate value-add potential.

“These four assets provide us with immediate scale and a solid foundation on which to grow our industrial and logistics platform in Australia,” said Alysia Reilly, head of industrial and logistics, Australia at Hines. “Our acquisition strategy is location driven so the fact that this portfolio was heavily weighted to Sydney was a key driver. We are actively targeting locations that fit Hines’ last-mile / urban logistics criteria and assets that we can transition into next-generation urban infill distribution centers over time.”

Since 2020, Hines has secured nine logistics assets totaling 290,000 square metres (3.1 million square feet) over six cities in Australia, China, Japan, South Korea, and Singapore.

The latest Australian acquisition will give Hines greater scale and generate more investor interest in the region,Hines said.

On a global scale, Hines has invested nearly USD4.1 billion in the industrial and logistics sector and completed over 60 acquisitions representing more than 4 million square metres (43 million square feet.) Hines has an additional 36 development projects ranging from in-design to completed, currently held in the portfolio.

“The logistics market is experiencing robust growth globally and Hines is bringing high quality product that caters to the future requirements of the sector and improves today’s logistics operator’s experiences,” said Simon Shen, senior managing director and fund manager of HAPP at Hines. “HAPP will target increasing opportunities similar to this Australia acquisition and build significant exposure to logistics through our portfolio deals in Asia Pacific.”