Warburg Pincus-backed ESR adds industrial site to Australia portfolio for $98m

Photo by Erwan Hesry on Unsplash

Warburg Pincus-backed logistics real estate developer ESR has purchased an industrial site in Australia for A$142.5 million ($98.2 million) in a continued push in the country’s industrial and logistics real estate space.

The 20.8-hectare development at Horsley Park will offer about 110,000 square metres of gross floor area across 4-6 warehouses in what will become the ESR Horsley Logistics Park.

The site is within the Western Sydney industrial market. It is also close to major transport links including the M4 and M7 motorways and in close proximity to the future Western Sydney Airport, ESR said in its announcement.

Since entering the Australia market, ESR has completed the integration of Propertylink Group and Commercial & Industrial Property Pty Ltd.

In June, Frasers Property Australia and ESR Australia jointly acquired a 4.67-hectare business park development site in Melbourne suburb Mulgrave area, valued at A$400 million ($276.28 million).

With these acquisitions in the country, the firm has added approximately 70 hectares and close to 330,000 sqm of logistics space, bringing ESR’s total development pipeline in Australia to A$1.8 billion.

“We will continue to add to our land bank to ensure ESR is well-positioned to keep capitalising on the opportunity that the Australian market offers with an established presence, substantial team of experts on the ground, and proven capabilities in Australia,” said Phil Pearce, CEO of ESR Australia.

ESR Australia, which manages assets worth $1.3 billion, is a part of Asia-Pacific logistics real estate platform ESR Cayman that has over $20 billion in assets under management across the region.

ESR Cayman Ltd raised $1.6 billion in a re-launched IPO in October. Its shares began trading on the Hong Kong Stock Exchange on 1 November 2019.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.