Singapore industrial REIT, Cache Logistics Trust, is acquiring a portfolio of nine properties across Australia that will increase its weighted average lease expiry (WALE) to 3.4 years.

The nine logistics facilities are located in the states of Victoria (six properties) , New South Wales (one property), and Queensland (two properties), and will cost the REIT some AUD191.0 million (USD154 million), including duties and acquisition-related fees.

The REIT has described the proposed acquisition as part of its strategy to continue recycling capital into good quality, income-producing freehold assets in Australia.

“The yield-accretive transaction not only provides income and geographical diversification to Cache but further enhances its base of high quality logistics tenants and end-users”, said Daniel Cerf, CEO of the REIT’s manager.

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