Abu Dhabi state fund Mubadala Investment Company has launched a new venture with Australian logistics property group LOGOS and US global investment firm KKR & Co to develop logistics facilities across Australia.
The venture is seeded with an 18.2-hectare development site in Brisbane that will be redeveloped into a master-planned logistics estate, the state investor said on its Twitter account Thursday.
The project is expected to have an estimated value of A$200 million ($155 million) upon completion.
“This will meet the ever-growing demand from global, multi-national and domestic logistics customers,” Mubadala said.
The tweet did not disclose the size of either Mubadala’s or KKR’s investment.
(Writing by Brinda Darasha; editing by Seban Scaria)
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