ESR, the Asia-Pacific real asset owner and manager focused on logistics real estate, data centres, and energy infrastructure, has set up a new development partnership with Mitsubishi Estate Asia.
In a statement, ESR said the partnership will deliver a prime logistics estate in Western Sydney in a deal valued at about A$700 million (about $503 million).
The ESR Huntingwood Development Partnership will develop an 18.3-hectare site at Huntingwood into a premium, multi-stage logistics estate, the companies said in a statement on Monday.
Construction is scheduled to commence in the second half of 2026, with completion targeted from the second half of 2027 onward.
The estate will be delivered across three stages and provide up to 114,005 square metres of modern warehousing space.
It is expected to attract major domestic and international customers seeking modern, efficient facilities with direct access to the M4 Motorway and Great Western Highway.
The deal marks the second partnership between ESR and Mitsubishi Estate Asia in two years, following the ESR Pakenham Partnership established in 2024.
The partnership reflects sustained customer demand for premium logistics space, supported by ESR’s development pipeline of over A$10.2 billion across Australia and New Zealand, the statement said.
“This is our second partnership with Mitsubishi Estate Asia in the past two years, and the Huntingwood investment is a clear testament to the strength and momentum of this relationship,” said Phil Pearce, president of ESR.
ESR earlier agreed to set up a 1.6 billion yuan ($235 million) fund with two Chinese insurance groups.
The fund is expected to acquire two of ESR’s multi-storey logistics and industrial assets in Shanghai and Suzhou, subject to customary conditions.
