Investment in EALP

Investment in EALP

ESR Australia Logistics Partnership (“EALP”), which comprises 37 prime logistics properties all located in Australia, is a private fund managed by ESR Asset Management (Australia) Pty Ltd, an indirect subsidiary of the Sponsor. ESR Queensland Hold Trust and ESR-REIT each holds a 10.0% interest in the total issued units of EALP, with the remaining 80.0% interest in EALP held by a wholly owned subsidiary of GIC (Realty) Private Limited, whose primary business is to hold real estate investments of GIC Private Limited, a global investment firm established in 1981 to manage Singapore’s foreign reserves. This is ESR-REIT’s first acquisition from ESR Cayman Limited’s (the “Sponsor”) pipeline as well as its first overseas expansion.

EALP’s portfolio currently comprises 33 income-producing properties1, two land parcels for future development and another two properties which are currently under development, with a total asset value of approximately A$1,212 million. Collectively, the 37 prime logistics assets are located in core industrial markets of New South Wales, Victoria, Queensland, South Australia and Western Australia, with a total land area of approximately 1,319,468 square metres, an occupancy rate of 95.9% and a WALE of 4.872 years as at 31 March 20213.The land leases of the 32 Income-Producing Properties3 are predominantly freehold (81.4% by value as at 31 March 2021), with the weighted average land lease expiry being 89.8 years4.

More information on EALP can be found here: https://au.esr.com/

  • Includes 65-75 Strelecki Avenue which was acquired by the Fund on 19 April 2021.
  • Weighted by rental income.
  • Excludes 65-75 Strelecki Avenue which was acquired by the Fund on 19 April 2021.
  • Assuming that freehold land has an equivalent land lease tenure of 99 years and taking into account only a 10.0% interest in the Fund.