PGGM, Charter Hall tie-up acquires fourth asset for planned $578m asset pool

REUTERS/Thomas White

A tie-up between Australian property group Charter Hall and Dutch pension fund manager PGGM has acquired a fourth asset, bringing the portfolio value to A$300 million ($216.87 million).

The PGGM-Charter Hall partnership, called CHPIP, expects to have a total portfolio value of A$800 million ($578.32 million). CHPIP, set up in the fourth quarter of 2019, is targeting investments in Australian industrial, logistics, manufacturing and last-mile distribution properties; both land investments and stabilized assets would be considered.

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