Charter Hall's $6 billion wholesale flagship industrial fund CPIF acquires a $269 million industrial portfolio leased to national food distributor PFD Food Services
3 May 2021 - Charter Hall’s leading $6.0 billion wholesale industrial and logistics fund, CPIF, has announced the acquisition of a portfolio of 25 cold store and food distribution centres on an average 13.8 year sale and leaseback to leading food business, PFD Food Services Pty Ltd (“PFD Food Services”), for $269.4 million.
The Portfolio is located across Australia, with the majority of income derived from Victoria (55%) followed by Queensland (23%) and South Australia (10%), and 90% of the Portfolio (by value) is located in metropolitan industrial precincts. The Portfolio has a site area of approximately 292,665sqm and ~82,331sqm of GLA and has a low overall site coverage ratio of 28% providing CPIF with future expansion capability.
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