Another industrial portfolio changes hands

Another industrial portfolio changes handsMajor deals in the industrial sector continue to gain attention, with the latest being the reported portfolio purchase by US investment company Blackstone from Goodman Group for $640 million.As reported in Property Australia last week, AMP Capital recently acquired a portfolio of six logistics facilities in Sydney from JP Morgan for $2 million.According to press reports, the 15 properties in the Goodman portfolio comprise about 530,000 sqm and are located in Victoria, Queensland and South Australia.It is understood the deal was negotiated by Colliers International.Goodman, which has about $12.5 billion in assets, declined to comment on the sale. In February this year the company said it planned to sell about $2 billion of assets to provide funding for development. Blackstone has been an active buyer of commercial property in Australia and in May this year purchased, with Mirvac, a portfolio of four shopping centres from Vicinity Centres for $841.4 million. In 2015 it acquired Melbourne’s Southern Cross complex from Brookfield for $675 million. Overseas, the company brought the Blanchardstown Centre in Ireland for about $AU1.4 billion in June and, most recently, is reported to be buying a portfolio of seven office investments in the US from Hines Real Estate Investment Trust for $AU1.5 billion.