182-198 Maidstone Street, Altona. (Photo: Cache Logistics Trust)

Cache Logistics Trust has announced the acquisition of a single-storey logistics warehouse and office facility at 182-198 Maidstone Street, Altona, in the Australian state of Victoria.

The property is being acquired by the REIT for a consideration of AUD41.2 million (USD29 million).

This purchase consideration represents an initial property yield of 6.8%.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.