Ormeau Cold Storage - Brisbane, Australia
Forward funding of a state-of-the-art cold storage logistics asset in a tight rental submarket.
Hines Asia Property Partners (HAPP)
Next-Generation Cold Storage
AT A GLANCE
Brisbane, Australia
Located between Brisbane and the Gold Coast in a well-established logistics precinct with tight vacancy.
11,175 sqm
Description
Hines sourced and acquired this logistics asset in May 2022 for HAPP through a forward funding structure, which provided the Fund with a yield premium over a stabilized asset. Located between Brisbane and the Gold Coast, the building provides 11,175 square meters of cold space in a well-established logistics hub with tight vacancy. The Hines industrial team in Australia took delivery of the building upon completion in early 2023 and shortly after, secured a third-party logistics tenant (3PL) for the entire building. Value was created through successful leasing and capturing the cap rate spread between forward funding and a stabilized acquisition.
Asset Spotlight - Ormeau Cold Storage
Disclosures
Ormeau Cold Storage is part of the HAPP portfolio. The case study presented herein is for illustrative purposes only. It should not be assumed that investments made in the future will be comparable in quality or performance to the investment described herein. Case studies selected are the Fund’s latest acquisition in each sector.