$23.7m Trilogy fund targets Port of Darwin logistics

TRILOGY Funds has opened a $23.7 million capital raise for a new unlisted industrial property fund centred on one of Australia’s most strategically important maritime logistics precincts, with the asset sitting just four kilometres from the Port of Darwin.

The Trilogy Northern Logistics Fund will acquire 16 Dawson Street, East Arm — a 14,835‑square‑metre high‑clearance logistics facility positioned within the Darwin Business Park, the Northern Territory’s core freight and port‑adjacent industrial zone.

The site’s proximity to the port, rail terminal and major freight corridors places it directly within the Territory’s expanding maritime supply chain.

The asset is fully leased to national operator Northline on an 8.8‑year weighted average lease expiry with fixed 3% annual rent reviews.

Trilogy is targeting a 12.50%+ p.a. IRR and 7.85% p.a. average income yield over an initial six‑year term, with the $41.4 million acquisition funded through a mix of equity and debt.

Laurence Parisi, Trilogy’s head of direct property, said the investment reflected growing confidence in Darwin’s role as a national logistics, defence and energy hub — and the accelerating pipeline of port‑related infrastructure.

“Darwin is Australia’s closest capital city to Asia and the level of investment flowing into East Arm is hard to ignore — the $515 million ship lift, the $440 million regional logistics hubs program, and a $2.8 billion Territory infrastructure pipeline behind them,” Mr Parisi said.

He said the Dawson Street facility is positioned to benefit from structural shifts reshaping maritime and freight operations, including e‑commerce growth, automation, defence spending and supply chain resilience.

The East Arm precinct has become a focal point for national logistics investment, with port‑adjacent industrial land increasingly sought after by operators requiring multimodal access and long‑term certainty. Trilogy’s latest acquisition follows its 2025 purchase of a logistics asset in nearby Berrimah for its Industrial Property Trust portfolio.

Mr Parisi said recent changes to negative gearing and capital gains tax concessions in the 2026 Federal Budget are also pushing investors toward income‑focused assets with strong maritime connectivity.

“When the tax benefits come out of the equation, what’s left is the quality of the income itself — and a fully occupied asset with a long lease, proven tenant and fixed annual increases is a straightforward proposition,” he said.

The offer is open to wholesale investors with a minimum investment of $100,000 and is expected to close on 19 October 2026.