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ESR launches A$138M new mandate for development pipeline

ESR Pte. Ltd launched a new A$138 million mandate to fund its development pipeline in Australia, The Australian reported.

The ESR Office Partnership IV will have the properties at 15 Talavera Road, Macquarie Park, Sydney, with a net lettable area of 12,630 square meters, and at 18-20 Orion Road, Lane Cove, Sydney, with a net lettable area of 9,751 square meters, as seed assets.

According to the Dec. 10 report, the logistics company introduced a number of investors into the mandate. ESR will own a stake of about 11%.