Frasers Property has expanded its capital partnership with Morgan Stanley Real Estate Investing (MSREI) to include a portfolio of nine industrial assets from Frasers Property Industrial across New South Wales, Queensland, and Victoria. The portfolio spans approximately 163,000 sqm of gross floor area and is valued at around $500 million, with potential to grow to 300,000 sqm and $800 million once fully developed.

The expansion introduces a new joint venture, Frasers Logistics Partnership, which will hold four assets, while five assets, including one under development, will join the existing Frasers Prime Logistics Venture established in April 2025. Together, these ventures bring the total value of Frasers Property’s capital partnership with MSREI to approximately $1.4 billion, demonstrating the two firms’ long-term commitment to industrial investment and capital-efficient growth.

The portfolio comprises high-quality tenants such as Goodyear, Asahi, and DHL, with a strong weighted average lease expiry (WALE) and an average property age of 12 years. Eight of the nine assets are fully developed and leased, while a 20-hectare development site in Queensland could accommodate up to five additional industrial properties, contributing significantly to future growth.

“This latest milestone reflects the strength of that strategy and the alignment we’ve found with partners like MSREI, positioning us for scalable growth,” said Reini Otter, CEO of Frasers Property Industrial. Ian Barter, Managing Director Australia at Frasers Property Industrial, added: “This second venture with MSREI demonstrates the value of our build-to-core approach and our ability to deliver premium industrial assets, while accelerating development and optimising capital efficiency.”

The five assets joining the Frasers Prime Logistics Venture are: 2 Wonderland Drive (Eastern Creek, NSW), 2 Fairway Street (Stapylton, QLD), 11 Eastridge Street (Stapylton, QLD), 10 Homestead Drive (Stapylton, QLD), and 60 Stapylton Jacobs Well Rd (Stapylton, QLD). The four assets under the new Frasers Logistics Partnership include: 10 Reconciliation Rise (Pemulwuy, NSW), 227 Walters Road (Arndell Park, NSW), 56 Canterbury Road & 1-3 Beyer Road (Braeside, VIC), and 2-8 Beyer Rd (Braeside, VIC).

The transaction was facilitated by Cushman & Wakefield brokers Tony Iuliano and Adrian Rowse, and CBRE brokers Chris O’Brien and Jason Edge.