CHARTER Hall Group has announced that its flagship $5.8bn Charter Hall Prime Industrial Fund has closed its capital raising significantly oversubscribed, having raised $2.6bn since April 2020 in two separate raisings.
The capital raising was supported by both existing and 29 new investors, comprising a mix of Australian and offshore investors including super funds, pension plans, sovereign wealth funds, insurance companies, and financial institutions from Asia, the Middle East, Europe and North America.
Charter Hall managing director and group CEO David Harrison said they were delighted with the strong level of support.
“The industrial and logistics sector continues to benefit from the rapid growth in online retailing and the focus on supply chain efficiencies,” Mr Harrison said.
“Most institutional investors are significantly underweight the industrial and logistics sector and recognise the potential growth and the attractive long-term, resilient returns available.”
Charter Hall’s industrial and logistics CEO, Richard Stacker, said they were providing investors with access to the strong performing and tightly held industrial and logistics sector. “We continue to leverage our local market knowledge and deep cross-sector tenant customer relationships to curate a portfolio of high quality assets with a large exposure to consumer staples and essential services, at the same time as maintaining a sector leading WALE,” Mr Stacker said.