Australia's Macquarie Goodman lifts funds in Q3, announces UK acquisition |
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Published
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Thu, 12 Apr 2007 03:39
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SYDNEY (XFN-ASIA) - Industrial and commercial property investor Macquarie Goodman Group said it had raised assets under management by five pct to 34.9 bln in the three months to March.Over the third quarter, it said development commencements of 485 mln aud were achieved taking the book of active developments to 3.0 bln aud while the managed fund business delivered strong performance across the board.Macquarie Goodman also announced the acquisition of a leading UK logistics property developer, Rosemound Developments Ltd, for 840 mln aud.Chief executive Gregory Goodman said the acquisition of Rosemound is highly complementary to his firm's existing European business space platform, providing a pan-European solution to customers by drawing on Rosemound's significant UK land bank and management expertise.He said the acquisition adds over 1.8 mln sqr metres to their UK development pipeline with an estimated end value of 4.1 bln aud.'The acquisition is particularly exciting for the development of our European funds management platform and the establishment of the proposed UK logistics fund,' Goodman said.(1 usd = 1.21 aud)paul.daniel@xfn.com
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Australia's Macquarie Bank now sees H2 net profit topping H1 