EG is pleased to announce the successful acquisition of a multi-let industrial estate at 140 Wecker Road, Mansfield, QLD for $32 million. The asset is the fifth acquired for EG’s growing Australian Core Enhanced Fund (ACE) since it launched in June 2019.
The property is in the inner urban industrial precinct of Mansfield, 12km south east of the Brisbane CBD and 14km from Brisbane airport and Port of Brisbane. Other major occupiers in the industrial precinct include Australia Post, Toll and Storage King. The asset has a 2.0 year WALE and is currently 95% occupied.
“The asset fits well with the Fund’s strategy to acquire industrial assets in land constrained markets with strong leasing fundamentals,” said EG’s ACE Fund Manager Michael Noblet.
EG ACE is an open-ended diversified fund targeting office, industrial and retail real estate in Australia. The Fund’s strategy is to acquire well located assets where value can be added by implementing active asset management strategies.
Founded in 2000, EG has $3.2 billion under management on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $4.3 billion in development pipeline, and 16.7% per annum in realised IRR for institutional funds, EG is committed to finding a better path to better returns.