DWS Acquires 50% Share in Super Prime Cold Storage Facility in Queensland

DWS today announced the acquisition of a 50% freehold interest in a prime, refrigerated distribution centre located in Parkinson, Queensland for AUD $134.2 million, on behalf of its institutional focused, Asia core real estate strategy, from Frasers Logistics & Industrial Trust (FLT), who will retain its remaining 50% ownership.

Sitting on a significant land holding of 15.5 hectares, the modern, purpose-built facility comprises a single story, state of the art cold storage distribution centre, cross docked facility, and offices over two levels. Built in 2008 and extended in 2012, it is let to sole tenant Coles Group Ltd.

Located at 99 Sandstone Place, Parkinson in Queensland, it is well positioned in one of Brisbane’s major industrial estates, the ‘Southlink Business Park’. It benefits from excellent connectivity to Brisbane’s CBD, seaport, airport and an intermodal hub.

James Bartlett, Head of Real Estate, Australia at DWS said: “The property provided an attractive opportunity to acquire a super prime, refrigerated, logistics facility - a sector attracting increased investor demand for its higher yielding industrial assets.” He added: “We are delighted to partner with FLT on this joint venture ownership and look forward to working with the team.”

Mr. Robert Wallace, Chief Executive Officer of the REIT Manager said: “We are pleased to enter into a partnership with DWS to co-own and co-manage the Property. DWS has a proven track record in Australia’s industrial sector and has strong familiarity with cold storage logistics assets.” He continued: “This partnership is a great opportunity to bring together the mutual strengths of both FLT and DWS in the ownership and management of industrial properties.”

This represents DWS’s fourth acquisition in cold storage facilities in Australia.

For further information please contact:

Karin Pamio
Phone: +61 (03) 9270 4366

DWS - Real Estate
DWS’s real estate investment business has been investing in real estate assets for almost 50 years. As part of the Alternatives platform, the real estate business has more than 450 employees around the world and EUR 60 billion in assets under management as of June 30, 2019, and offers a diverse range of strategies and solutions across the risk/return and geographic spectrums, including core and value-added real estate, real estate securities, real estate debt and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.

About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 719bn of assets under management (as of 30 June 2019). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our strategic investment approach.

DWS wants to innovate and shape the future of investing: with approximately 3,600 employees in offices all over the world, we are local while being one global team.


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