AMP Capital snaps up $250m of industrial assets
AMP Capital's diversified property fund (ADPF) has purchased $250 million of Sydney's industrial assets, saying that the industrial property market will continue to strengthen.
The fund manager purchased six Sydney based warehouse/logistics assets, located in a mix of areas with future urbanisation potential.
The assets were close to existing and proposed infrastructure, and in land constrained markets, which would benefit from future rental and capital growth.
ADPF fund manager, Kylie O'Connor, said: "Our research shows that the Sydney industrial market will continue to perform due to the strengthening state economy".
"Both the market and assets [were] poised to benefit from the significant ongoing infrastructure investment," O'Connor said.
She said she was happy that they purchased the industrial portfolio off-market and on such attractive terms for their investors.
"Over the next five years, the fund remains focused on executing upon its strategy to become the pre-eminent wholesale diversified fund in the Australian market. This portfolio will enhance our ability to continue to provide attractive long-term risk adjusted returns to investors," O'Connor said.
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