The deal is "one of the largest transactions of its kind so far in 2022," firm partner says
Johnson Winter & Slattery (JWS) has helped industry property specialist Pipeclay Lawson sell its real estate assets to global investment firm Hines for $211.5m.
Hines snapped up a portfolio of four logistics properties from Pipeclay Lawson on behalf of its flagship commingled APAC core-plus fund Hines Asia Property Partners (HAPP). Three of the properties are situated in large land sites in western Sydney, while the fourth is in Brisbane’s Trade Coast precinct.
According to Hines, the properties mark HAPP’s first logistics acquisition in Australia and its entry into the industrial sector. Hine’s industrial and logistics head Alysia Reilly added that the properties, totalling over 58,000sqm, will provide the company with immediate scale and a solid foundation on which to grow its industrial and logistics platform in Australia.
“Our acquisition strategy is location-driven so the fact that this portfolio was heavily weighted to Sydney was a key driver,” Reilly said. “We are actively targeting locations that fit Hines’ last-mile/urban logistics criteria and assets that we can transition into next-generation urban infill distribution centres over time.”
Real estate partner David Colenso led the JWS team on the transaction. He confirmed that the acquisition “broke records in the industrial market and is one of the largest transactions of its kind so far in 2022.”
Also on the JWS team were special counsel Morgen Kerry and senior associate Rita Bradshaw.
