The unlisted industrial property fund is seeking more capital to benefit from the current industrial property boom in Australia.
The Goodman Australia Industrial Fund is seeking to raise AUD 400 million from existing and new investors in light of the current high demand for industrial properties in the country.
The unlisted fund is the nation's largest wholesale industrial REIT and for fiscal year 2012, added 12 new developments with an end value of AUD 247 million.
During the same period, it also invested AUD 200 million in 10 new assets, while earning AUD 180 million from the sale of four properties to Malaysia's Employees Provident Fund (EPF).
Goodman Australia and EPF has also established an AUD 1 billion equity joint-venture, a move which CLSA Asia Pacific Markets analyst John Kim said signalled Goodman's access to a pre-eminent global platform. Kim added that his firm viewed the REIT positively, as development risk was moderated given strong investment demand.