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KWASA-Goodman Industrial Partnership (KGIP)

KWASA-Goodman Industrial Partnership owns a high quality portfolio of core logistics real estate in New South Wales. The Partnership was established in June 2012 in conjunction with Malaysia’s Employee Provident Fund. KGIP is focused on stable income driven returns with potential for income growth and capital appreciation.

KGIP provides partners with a high quality well located portfolio secured by strong lease covenants and long term lease term. The portfolio consists of 5 warehouse and distribution properties with a combined value of $545.5 million. The Partnership is characterised by 100% occupancy and long WALE of 5.8 years.

The Partnership services a diverse portfolio of customers across a range of industries featuring; logistics, consumer goods, manufacturing, information technology and automotive. Major customers include Iron Mountain, Mainfreight, DHL and Laminex.

Goodman retains an interest in the portfolio via an initial 40% equity commitment, with EPF holding the 60% majority share. Goodman provides management services to KGIP on terms generally consistent with arrangements across its existing investment management platform.
 
Key Stats 1
Total Assets 2 A$851 million
Gearing 35.3%
Number of Properties 5
Occupancy 100%
Weighted Average cap rate 6.5%

1. All figures as at 30 June 2016
2. Includes $297.0 million of receivables (after all costs) in relation tot he KGIP Melbourne portfolio divestments.