Charter Hall Group's unlisted Charter Hall Prime Industrial Fund signed a sale-and-leaseback deal to acquire industrial facilities in Australia owned by equipment dealer Hastings Deering.
The deal amounts to more than A$100 million and involves three fully leased properties in Archerfield and Acacia Ridge in Brisbane, The Australian Financial Review reported. Hastings Deering and its Malaysian parent Sime Darby guarantee the leases that bear two 10-year renewal options.
The deal follows the fund's roughly A$156 million June acquisition of Coca-Cola Amatil's manufacturing and warehousing facility in Richlands, Queensland, another sale-and-leaseback agreement.
Charter Hall Prime Industrial Fund lists 48 properties worth A$2.4 billion in its portfolio, the report noted.