Mirvac is set to acquire a portfolio of five industrial properties worth $224 million from an Altis Real Estate equity partnership fund.
The purchase, consisting of one Adelaide and four Sydney properties, brings the value of Mirvac's total industrial portfolio to $630m.
The acquisition will offer an initial yield of 7 per cent.
The move increases the Mirvac Property Trust portfolio’s industrial exposure to 9 per cent, from 6 per cent at June 30, 2014.
The portfolio has 100 per cent occupancy, and settlement is expected in early 2015.
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Mirvac set to acquire 5 industrial properties worth $224m from an Altis Real Estate.
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