Wakefield have kicked off the year’s biggest real estate sale, seeking a buyer for a half-share of a $3 billion-odd portfolio of industrial properties.
Peregrine’s properties covered 169 hectares, had 30 tenants, an 8½ year weighted average lease expiry and forecast $83 million net operating income next financial year. LOGOS, Peregrine, is technically the party calling for co-investors in the portfolio; however, it’s pretty clear the sale is on behalf of Abu Dhabi Investment Authority which industry sources reckon owns a 90 per cent stake in the portfolio via the LOGOS Australian Logistics Venture. [The portfolio’s name Peregrine crosses over with a type of falcon found in the UAE, which is ADIA’s home base.]
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