ESR and GIC Australia logistics JV acquires Melbourne site in first deal

ESR and GIC Australia logistics JV acquires Melbourne site in first deal

View of Melbourne, Australia at night

Warburg Pincus-backed logistics real estate group ESR is expanding its land bank in Australia with the planned acquisition of a 79-hectare development site in South East Melbourne through its recently launched A$1 billion ($700 million) ESR Australia Development Partnership (EADP) fund.