Australian investment company Charter Hall Group has partnered with Germany-based Allianz Real Estate, part of Allianz Group, to buy a portfolio of four ALDI logistics leased assets located in Sydney, Melbourne, and Brisbane.
Under the deal, Charter Hall managed wholesale fund, CPIF, and Allianz Real Estate, acting on behalf of several Allianz Group companies, agreed to buy the logistics portfolio for 648 million Australian dollars ($452 million).
The Sydney logistic facilities are located within prime industrial locations of Minchinbury and Prestons within the Outer west and southwest suburbs of Sydney.
Additionally, the Melbourne facility is situated at Dandenong Sand and the Brisbane asset is located at Brendale. More so, the transaction is anticipated to be completed in June 2020.