<article>Australian investment management firm <a style="color: #000080;" href="http://propertylink.com.au/" target="_blank">Propertylink</a> has reportedly acquired a portfolio of industrial assets in the country pegged at $98 million or a total of A$135.3 million.</article>

Australian investment management firm <a style="color: #000080;" href="http://propertylink.com.au/" target="_blank">Propertylink</a> has reportedly acquired a portfolio of industrial assets in the country pegged at $98 million or a total of A$135.3 million.
Propertylink made the investment through its second value-add vehicle, Propertylink Australian Industrial Partnership (PAIP) II, <a style="color: #000080;" href="https://www.perenews.com/" target="_blank">PERE News</a> reported.
PAIP II has acquired eight assets from Charter Hall at a yield of 8.7 per cent, and are mostly located in Victoria, New South Wales, Queensland.
Propertylink chief operating officer and head of investment management Stuart Dawes said the acquired industrial properties continue to attract local and foreign institutional investors.
&#8220;This portfolio of assets is an ideal fit for PAIP II and helps to underpin our target of double-digit returns for our investors who are seeking quality yield in a global environment of long-term low interest rates,&#8221; Dawes said.
According to Peter McDonald, executive director and head of property at Propertylink, tenants in portfolio tend to help provide a strong security of cash flow since 75 per cent of them were either publicly listed firms, multinational companies or Australian government departments.
Launched in September 2015, PAIP II is a successor to PAIP I that attracted $160 million of equity in 2014, including from Wall Street bank Goldman Sachs and the London-based property company Grosvenor.
PAIP II has a cornerstone investment from the Cleveland-based advisory and investment firm <a style="color: #000080;" href="http://www.townsendgroup.com/" target="_blank">The Townsend Group</a>. The firm is estimated to target A$300 million in fundraising for the vehicle and A$700 million worth of total assets. Through the vehicle, the firm has been buying industrial property that benefits from long leases including assets with shorter duration tenancy open for a value-add strategy
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Australia's Propertylink buys $98m portolio of industrial assets

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Australia's Propertylink buys $98m portolio of industrial assets

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