M&G banks $107m from Sydney warehouses
M&G Real Estate has quietly sold a major west Sydney industrial investment for $107 million – more than twice what it paid in 2015.
The Erskine Park property, 57-65 Templar Road, was picked up by ESR.
The off-market deal was struck by JLL’s Ben Hegerty, Jack Kelliher, Greg Pike, Joel Scully and Peter Blade.
M&G paid $50m for what was at the time a fully leased investment.
That seller, Dexus, developed the complex, with 30,144 square metres in two freestanding buildings (story continues below).
It bought the 6.25 hectare parcel which made way for the assets in 2011.
Erskine Park is about 42 kilometres west of Sydney’s CBD.
More to come.
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