Frasers Logistics To Acquire Dutch And German Properties For $736m
It's a time of big expansion for Singpaore's Frasers Logistics.
In a move marked as proving a strategic entry into the German and Dutch markets, Singapore's first listed real estate investment trust, Frasers Logistics & Industrial Trust, is set to acquire a portfolio of 21 properties in Germany and the Netherlands for an estimated $736.5 million.
Of the property swoop, 17 will be in Germany with the remaining four in the Netherlands while the purchases are being funded by a combination of equity and borrowings for the company. The move is seen to be important while the brand diversifies itself beyond Australia.
Speaking of the move, Robert Wallace, CEO of Frasers Logistics & Industrial Asset Management said: “This is a transformational acquisition for FLT to expand its initial focus from Australia to Germany and the Netherlands through the acquisition of a prime portfolio from Frasers Property.”