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Goldman Sachs Boosts Real Estate Portfolio with Australian Last-Mile Asset: Report
The Goldman Sachs Group, Inc. (NYSE:GS) shares are trading marginally lower today. The company’s alternative investments platform reportedly acquired seven logistics properties in Australia to expand its real estate portfolio for an undisclosed amount.
Goldman Sachs Alternatives acquired “last-mile” properties in Adelaide, Brisbane, Perth, and Melbourne, leased to e-commerce, transport, and wholesale distributors, Reuters reported.
Last-mile logistics assets, typically urban warehouses, facilitate final delivery processing before reaching end-users.
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The report quoted Nikhil Reddy, head of Asia Pacific real estate at Goldman Sachs Alternatives, who said, “This investment highlights our continued commitment to Australian real estate and reflects our conviction in sourcing Australian last-mile ...