SC Capital Partners Group, the Singapore-headquartered private equity real estate firm, has acquired a strategic industrial asset in South-East Queensland, Australia on behalf of its latest closed-end opportunistic fund, Real Estate Capital Asia Partners V (RECAP V).
KordaMentha Real Estate has originated, and will act as manager of the investment, which is located in the emerging Yatala Enterprise Area between Brisbane and the Gold Coast. The property, which was purchased for A$23.2m, consists of a land parcel of 3.7 ha improved with an existing building of 8,600 sqm that is leased to 2026. SC Capital Partners and KordaMentha Real Estate intend to add value to the property by developing the surplus unimproved land of 1.6 ha.
Read the full press release at the link below
