Pacific Industrial Estate is a single-asset joint venture between a PGIM Real Estate strategy and a KM Property Funds managed private fund. The joint venture invested in a prime industrial and logistics estate located at 14 Dixon Street, Yatala, Queensland (the Property). It benefits from convenient access to the M1 Pacific Motorway and is strategically located between Brisbane and the Gold Coast.

Key points:

• A modern facility constructed between 2019-2023, with four high-quality buildings and all in good condition.
• The Property is fully leased to six tenants, with a Weighted Average Lease Expiry (WALE) of 4.7 years at acquisition. There is flexibility to alter the configuration of the buildings to allow for up to eight tenancies.
• The Property benefits from ample yard space, 356 parking spaces, high clearances and immediate access to the M1 motorway, connecting Brisband and the Gold Coast.
• The Property is under-rented by approximately 38%, offering rent reversion opportunities as leases expire over 2026, 2029 and 2030