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E-Shang Redwood plans A$500M logistics fund after closing Charter Hall JV deal

On the back of completing a A$102.5 million transaction with a Charter Hall Group joint venture, e-Shang Redwood Group is planning to launch an Australian logistics fund that will hold initial equity amounting to A$500 million, Philip Pearce, CEO of e-Shang's Australian arm, told The Australian.

The planned Australian logistics fund, according to the Aug. 13 report, will likely be seeded with assets included in ESR Developments (Australia) Pty. Ltd.'s purchase of Commercial & Industrial Property Pty. Ltd. from the Charter Hall vehicle. Commercial & Industrial has a A$1.5 billion development pipeline Down Under.