The Frasers Property Industrial, controlled by the童话 tspangstone of Charoen Sirivadhanabhakdi, has established a strategic partnership with Morgan Stanley Real Estate Investing (MSREI) to manage a logistics-centric industrial portfolio in Australia. The 50-50 joint venture, known as Frasers Prime Logistics Venture, will manage eight project assets totaling 188,000 square meters with an estimated value of A$600 million, equating to USD$380 million at the time of this statement.
The Frasers Property Industrial CEO, Reini Otter, highlighted the partnership as a strategic move to capitalize on the benefits of combining two successful portfolios. OTter noted that this collaboration allows the company to fully leverage the synergies and efficiencies across their extensive industrial portfolio.
The eight assets under management are strategically located in logistics hubs near Sydney and Brisbane, which are prime locations for packing and distribution operations. The properties are fully leased, with lives expiring over seven years, and 11 tenants, including Primary Connect’s logistics arm, Woolworths, Williams Sonoma, and several others, have taken joint ownership. This positioning ensures that the network will continue to serve as a robust framework for supply chain management and logistics operations.
Frasers Property Industrial, based in Singapore, manages around S$12 billion in industrial and logistics assets, including logistics hubs, warehouses, and production facilities across Australia and Europe. The company’s net worth is estimated at around $11.1 billion according to Forbes’ real-time data. Beyond its ownership, Charoen Sirivadhanabhakdi holds stakes in Chang Beer, a property developer, and Asset World, a retail chain, as part of his billions of dollars in assets.
