Fraser Property's (SGX:TQ5) unit, Frasers Property Industrial, entered into a capital partnership sponsored by Morgan Stanley Real Estate to form Frasers Prime Logistics Venture in Australia, according to a media release on Thursday.
The venture has a portfolio of eight industrial assets in Sydney and Brisbane.
The 50-50 JV spans a total gross floor area of 188,000 square meters, while the portfolio is valued at around AU$600 million.
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