Jasper closes substantial East Tamaki holding for just over $40m
Jasper, the technology-led commercial real estate fund manager, has completed the acquisition of an industrial asset in East Tamaki for just over $40 million. The acquisition is one of two assets that will seed a new industrial fund targeting Value-Add logistics and industrial investments across the wider Auckland region. This will be Jasper’s third industrial fund, with the previous two focusing on Core and Income-Plus strategies.
East Tamaki remains one of Auckland’s largest and most popular industrial precincts, located less than 20kms to the CBD and 18kms to Auckland airport. This asset benefits from close proximity to the Highbrook motorway interchange, making it attractive and accessible to industrial occupiers.
Mark Campbell, Chief Investment Officer at Jasper, commented: “In light of the increased demand for urban logistics assets, which has only accelerated due to the growth of e-commerce during the pandemic and ongoing supply constraints, we are very pleased to have completed this substantial acquisition of a high-quality asset with excellent connectivity to major road networks. We are looking forward to adding additional assets to this, and other funds, in the coming weeks”.