Frasers Property to merge European, Australian logistics into US$4bn unit

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Singapore-listed Frasers Property plans to merge its logistics real estate businesses in Australia and Europe into a S$5.4bn (US$3.97bn) global logistics platform.

Frasers will also combine the asset and property management business of Singapore-listed Frasers Logistics & Industrial Trust (FLT) into the new entity, the company announced.

Reini Otter and Matt Knox, of Frasers Property’s Australian operations, will lead the new platform as CEO and CFO, respectively. FLT manager CEO Robert Wallace will continue to lead the trust’s manager.

Reini Otter (image: Frasers Property)

“Our industrial and logistics business in Australia and Europe has grown rapidly over the past five years, from S$1.6bn to S$5.4bn,” said group CEO Panote Sirivadhanabhakdi.

“We believe this integration will allow us to better serve the needs of our customers, scale faster and more effectively through active asset creation and strategic asset management.”

The integrated business will offer development, asset management and third-party capital management capabilities across the logistics and industrial property sectors in Australia and Europe.

Matt Knox (image: Frasers Property)

It will also explore ways to take advantage of connections across Europe, Australia and Southeast Asia, and work closely with Frasers Property Thailand, one of the country’s largest industrial and logistics operators.

Otter joined the Australian business in 1998 and has held senior leadership positions within the commercial and industrial business for more than 15 years.

Knox, who started with the company in 2007, previously served as CFO for Frasers Property Australia.

Last month, FLT sold a half stake in its 54,245 sq.m. cold storage warehouse in Brisbane, Australia to German asset manager DWS for A$134.2m (US$92.2m).

Frasers Property is headquartered in Singapore and has S$33.2bn in assets under management.

It owns residential, retail, logistics, industrial and commercial and business park assets across Southeast Asia, Australia, Europe and China, as well as a global hospitality business.