Quanta Investment Funds secures $20.75m in Queensland industrial assets

Quanta Investment Funds has acquired two Queensland industrial properties worth $20.75 million, with both investments fully subscribed by investors in record time.

The Brisbane-based commercial property investment group purchased a logistics facility in Mackay and an industrial site in Townsville, expanding its Queensland portfolio.

Investors fully subscribed the Mackay property, located at 2-10 Titanium Drive in Paget, within just 30 minutes of its offering.

The 5,420 square metre transport and logistics cold storage facility is situated in what Quanta describes as a tightly held and undersupplied market.

The second acquisition at 646-658 Ingham Road in Mount Louisa, Townsville, was fully subscribed within 72 hours. The 32,000 square metre site has a site coverage of 26% and was purchased at half its estimated replacement cost.

Quanta Investment Funds CEO Stacey Jones said the rapid capital raising demonstrated investor appetite for industrial assets.

“We know from conversations with investors that there is a strong appetite for high-quality industrial assets,” Ms Jones said.

“Our rapid capital raising for these assets underscores the confidence investors have in Quanta to source those assets with strong growth potential.”

Both properties are fully tenanted, with weighted average lease expiries (WALE) of 4.63 years and 6.6 years respectively. The tenants include ASX-listed companies, with PFD Food Services, a subsidiary of Woolworths Group, among them.

The investments are structured as single-asset, closed-ended trusts offering average distributions of 8.75% and 9% respectively over a five-year term.

Quanta’s management team will co-invest alongside external investors in both trusts.

These acquisitions bring Quanta’s total to four strategic purchases this financial year, including a $6.6 million CBD office and a $16.7 million industrial asset in Mackay acquired in October and September respectively.