By a staff reporter
Logistics property giant Goodman Group has raised $775 million in equity through its European logistics fund.
Goodman raised the cash in a rights issue to shareholders, with total demand tipping €900 million (A$1.3 billion).
Demand from new investors has cleared the way for Goodman Group to sell down part of its holding in the $1.9 billion fund - Goodman European Logistics Fund - to 20 per cent.
Goodman Group chief executive officer Greg Goodman said demand for the deal showed "the attractiveness of the European logistics property market to large institutional investors”.
It comes after Goodman raised €500 million in a eurobond issue in March, bringing the new capital raised in the first half of the current calendar year to over €1 billion.
"GELF is now well positioned for future growth with over €800 million of capacity to invest," Goodman said.