Ambitious local fund manager Gateway Capital has brought together a Canadian pension fund and an Asian sovereign wealth vehicle to acquire a prized $330 million logistics estate in Sydney – the largest such deal in that market in more than five years.
New York-headquartered investment giant Brookfield sold the site. The transaction highlights how major global funds are jostling hard for a position in one of the world’s tightest industrial markets.
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clarification —
Connect Central Sydney became fully operational in November, and reached practical completion in August. The original article stated that it was fully developed in November.
Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
