Goodman Group (GMG), Australia’s biggest industrial property trust, said it had partnered with Abu Dhabi Investment Council, a government-controlled fund manager, to buy warehouses in Japan.
Goodman raised $500 million that will enable the fund to acquire more than $1 billion of logistics properties in major cities such as Tokyo and Osaka, according to the statement released today. Goodman also said its Japan Core Fund had received allocations from three global institutional investors, taking external commitments to over $100 million.
“Today’s announcement further demonstrates our successful capital partnering approach with major global investor groups and underscores our strategy of matching third party capital with our growing development pipeline,” said Greg Goodman, chief executive of Goodman, in a statement.
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