ARA LOGOS Logistics Trust

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#35
Cache Logistics Trust buys McPhee logistics portfolio
BEN WILMOT THE AUSTRALIAN FEBRUARY 10, 2015 12:00AM

SINGAPORE’S Cache Logistics Trust has snapped up the McPhee logistics portfolio in a $70 million play that marks its entry into the hot Australian industrial property market.

The purchase of the assets, flagged last month by The Australian, could be the start of a larger shift into Australia by the Singaporean trust, which is among the top Asia-Pacific owners of logistics property.

Cache is the latest of the new breed of international investors to forge into the local industrial property market, with funds ­giants Invesco and M&G Real ­Estate, as well as Malaysia’s KWAP, also making inroads.

Rival Singapore-listed Cambridge Industrial Trust, which yesterday launched a European roadshow, has also been scouring local markets for assets.

The chief executive of Cache’s manager, Daniel Cerf, called the move a “strategic investment” into Australia, and said it was in line with the manager’s strategy.

“The addition of three quality distribution warehouses on freehold land will not only strengthen the portfolio, but also provide income and geographical diversification,” he said.

Flagging ambitions to expand locally, Mr Cerf said: “These, being our first acquisitions in Australia, further demonstrate our interest in continuing to grow Cache accretively and in a prudent manner.”

McPhee Distribution Services, the fourth generation Australian-owned family transport business that specialises in providing warehousing and distribution services, flagged its own growth plans.

“As the McPhee Group continues to expand in Australia, we hope to strengthen our relationship with Cache on other potential business opportunities,” said managing director Jay McPhee.

The deal was handled by Gavin Bishop, Peter Dale, Tony Iuliano and Simon Beirne of Colliers International.

The portfolio features three warehouse and logistics facilities in NSW, Victoria and Queensland that span 56,601sq m of building area. The properties carry a substantial weighted average lease to expiry term of 9½ years by income.

Buying the buildings, which generate a passing income of $5.06m per annum, gave the portfolio sale a yield of about 7 per cent. The total acquisition cost was about $75.6m once stamp duty and transaction expenses were taken into account.

The three distribution warehouses will be fully leased to tenants including McPhee, Linfox Australia and Stirling Holdings.

The portfolio has fixed annual escalations of 3-3.5 per cent.
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ARA LOGOS Logistics Trust - by lonewolf - 14-03-2011, 08:51 PM
RE: Cache Logistics Trust - by Drizzt - 14-03-2011, 09:15 PM
RE: Cache Logistics Trust - by edentity - 15-03-2011, 08:39 AM
RE: Cache Logistics Trust - by wsreader - 27-05-2011, 04:28 PM
RE: Cache Logistics Trust - by Nick - 01-06-2011, 05:24 PM
RE: Cache Logistics Trust - by lonewolf - 02-06-2011, 11:46 AM
RE: Cache Logistics Trust - by Drizzt - 02-06-2011, 12:31 PM
RE: Cache Logistics Trust - by Nick - 02-06-2011, 02:20 PM
RE: Cache Logistics Trust - by valueinvestor - 02-06-2011, 03:46 PM
RE: Cache Logistics Trust - by Pelhamh - 02-06-2011, 08:59 PM
RE: Cache Logistics Trust - by Drizzt - 02-06-2011, 09:01 PM
RE: Cache Logistics Trust - by Nick - 02-06-2011, 09:14 PM
RE: Cache Logistics Trust - by lonewolf - 06-06-2011, 04:25 PM
RE: Cache Logistics Trust - by Retired@52 - 07-05-2016, 12:29 PM
RE: Cache Logistics Trust - by Pelhamh - 02-06-2011, 09:10 PM
RE: Cache Logistics Trust - by Pelhamh - 02-06-2011, 09:22 PM
RE: Cache Logistics Trust - by Nick - 02-06-2011, 09:31 PM
RE: Cache Logistics Trust - by Nick - 06-06-2011, 04:57 PM
RE: Cache Logistics Trust - by Dividend Warrior - 28-07-2013, 08:47 AM
RE: Cache Logistics Trust - by Pelhamh - 28-07-2013, 10:45 AM
RE: Cache Logistics Trust - by mkmk - 23-10-2013, 06:42 PM
RE: Cache Logistics Trust - by zerobeta - 25-11-2013, 11:08 AM
RE: Cache Logistics Trust - by mobo - 25-11-2013, 01:20 PM
RE: Cache Logistics Trust - by financiallyfree - 25-11-2013, 12:35 PM
RE: Cache Logistics Trust - by zerobeta - 25-11-2013, 05:49 PM
RE: Cache Logistics Trust - by greengiraffe - 15-05-2014, 08:12 AM
RE: Cache Logistics Trust - by Dividend Warrior - 15-05-2014, 02:03 PM
RE: Cache Logistics Trust - by kayhian - 26-06-2014, 03:28 PM
RE: Cache Logistics Trust - by kayhian - 23-07-2014, 10:37 AM
RE: Cache Logistics Trust - by kayhian - 24-07-2014, 11:03 AM
RE: Cache Logistics Trust - by newyorkcityboy - 09-09-2014, 11:46 PM
RE: Cache Logistics Trust - by greengiraffe - 24-10-2014, 06:32 AM
RE: Cache Logistics Trust - by kayhian - 24-10-2014, 02:42 PM
RE: Cache Logistics Trust - by greengiraffe - 21-01-2015, 11:35 PM
RE: Cache Logistics Trust - by kayhian - 28-01-2015, 10:44 AM
RE: Cache Logistics Trust - by greengiraffe - 09-02-2015, 10:35 PM
RE: Cache Logistics Trust - by lonewolf - 09-02-2015, 11:25 PM
RE: Cache Logistics Trust - by Boon - 09-02-2015, 11:59 PM
RE: Cache Logistics Trust - by HitandRun - 10-02-2015, 08:20 AM
RE: Cache Logistics Trust - by gutman - 10-02-2015, 10:39 AM
RE: Cache Logistics Trust - by kayhian - 23-04-2015, 11:25 AM
RE: Cache Logistics Trust - by kayhian - 27-04-2015, 04:19 PM
RE: Cache Logistics Trust - by Shrivathsa - 03-11-2015, 12:10 PM
RE: Cache Logistics Trust - by MINX - 03-11-2015, 12:43 PM
RE: Cache Logistics Trust - by Dividend Knight - 03-11-2015, 01:55 PM
RE: Cache Logistics Trust - by greengiraffe - 03-11-2015, 04:16 PM
RE: Cache Logistics Trust - by Shrivathsa - 03-11-2015, 04:40 PM
RE: Cache Logistics Trust - by MINX - 03-11-2015, 08:52 PM
RE: Cache Logistics Trust - by Nick - 03-11-2015, 09:03 PM
RE: Cache Logistics Trust - by snapsnap - 04-11-2015, 02:22 PM
RE: Cache Logistics Trust - by greengiraffe - 14-11-2015, 10:28 PM
RE: Cache Logistics Trust - by ethys - 16-11-2015, 08:58 AM
RE: Cache Logistics Trust - by ethys - 16-11-2015, 10:34 AM
RE: Cache Logistics Trust - by greengiraffe - 16-11-2015, 11:09 AM
RE: Cache Logistics Trust - by CY09 - 07-05-2016, 12:39 PM
RE: Cache Logistics Trust - by jeremyow - 07-05-2016, 02:09 PM
RE: Cache Logistics Trust - by vesfreq - 11-05-2016, 02:09 PM
RE: Cache Logistics Trust - by ghchua - 07-05-2016, 06:48 PM
RE: Cache Logistics Trust - by jeremyow - 09-05-2016, 10:01 AM
RE: Cache Logistics Trust - by Shrivathsa - 17-06-2016, 04:35 PM
RE: Cache Logistics Trust - by CY09 - 04-09-2017, 10:10 PM
RE: Cache Logistics Trust - by weijian - 05-09-2017, 10:56 AM
RE: Cache Logistics Trust - by HitandRun - 05-09-2017, 01:20 PM
RE: Cache Logistics Trust - by weijian - 05-09-2017, 03:22 PM
RE: Cache Logistics Trust - by HitandRun - 05-09-2017, 05:17 PM
RE: Cache Logistics Trust - by weijian - 05-09-2017, 09:08 PM
RE: Cache Logistics Trust - by ghchua - 05-09-2017, 02:43 PM
RE: Cache Logistics Trust - by WH Cheng - 05-09-2017, 10:52 PM
RE: Cache Logistics Trust - by HitandRun - 06-09-2017, 08:05 AM
RE: Cache Logistics Trust - by weijian - 06-09-2017, 09:59 AM
RE: Cache Logistics Trust - by Shrivathsa - 13-09-2017, 06:50 PM
RE: Cache Logistics Trust - by travmufc - 15-09-2017, 01:00 AM
RE: Cache Logistics Trust - by specuvestor - 15-09-2017, 10:12 AM
RE: Cache Logistics Trust - by lonewolf - 17-04-2019, 12:53 PM
RE: Cache Logistics Trust - by lonewolf - 18-04-2019, 11:12 AM
RE: Cache Logistics Trust - by cyclone - 03-09-2019, 05:47 PM
RE: Cache Logistics Trust - by lonewolf - 28-04-2020, 11:35 AM

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