Growthpoint Properties Australia (ASX:GOZ) partnered with TPG Angelo Gordon, a diversified credit and real estate investing platform within Nasdaq-listed TPG, to form the Growthpoint Australia Logistics Partnership, according to a Tuesday filing with the Australian Securities Exchange.
The capital partner will acquire 80% of six of the company's industrial assets in line with June 30 book values, with Growthpoint entities holding the remaining 20% interest and serving as investment and property manager, the filing said.
The transaction is expected to be settled by December, with approval from the Foreign Investment Review Board, according to the filing.
The company's shares gained nearly 1% in recent Tuesday trade.
Price (AUD): $2.69, Change: $+0.02, Percent Change: +0.74%
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