Combining the balance sheet strength of the Charter Hall Prime Industrial Fund (CPIF) and its partner Allianz Real Estate gave us a competitive advantage in convincing ALDI that we could deliver an unconditional executed transaction within a short timeframe, having recently secured Foreign Investment Review Board (FIRB) approval for the transaction.
“Accessing the on-going growth and resilience of grocery retailing in Australia has been a consistent thematic driving the growth of our Industrial & Logistics portfolio toward $10 billion and beyond, now representing 25 per cent of our enlarged $40 billion platform”.
David Harrison, Managing Director and CEO of Charter Hall
”Demand for logistics in Australia is underpinned by growth in e-commerce, increasing international trade and the resilience of non-discretionary retail spending. This will provide our investors an attractive distribution yield”.
Rushabh Desai, Asia Pacific CEO of Allianz Real Estate
Our long-standing and valued partnerships with Allianz Real Estate and ALDI were at the heart of our approach to this transaction and delivered a successful outcome for all parties, with long-term growth for investors.
Our significant sale and leaseback activity provides off-market opportunities to grow our funds.
As the leaders in sale and leaseback deals in Australia, we gain access to quality properties on long term leases and work with corporates to develop customised deal structures which support their broader investment strategies and releases capital back into their business.
This transaction also demonstrates our ability to use the combined capacity of funds to close large transactions quickly and efficiently.
At Charter Hall we believe in going above and beyond. In doing more to help our tenants, investors, our people and the communities we operate in realise their full potential.