This article is from the Australian Property Journal archive
LOGISTICS specialist LOGOS’ founders are in talks to cash out to ESR, after co-founder and Tamworth-born Stephen Hawkins sealed a deal.
Hawkins has reached an agreement to sell his shares and finalised the sale in June 20.
Hawkins co-founded LOGOS with John Marsh and Trent Iliffe in 2010.
Hong Kong Exchange-listed ESR has had made no secret that it wishes to expand its industrial platform, and the assuming full control of LOGOS fits with the strategy.
Since its founding, LOGOS has expanded to become one of the leading industrial specialists in Australia and Asia.
ESR stepped into LOGOS as a major owner in 2021 after it acquired ARA Asset Management in 2021.
At the time, it held an 86.4% interest in LOGOS with the remaining 13.6% interest held by the three founders.
ESR is the largest real estate manager in Asia, 7th largest globally and is a major owner in ASX-listed Cromwell Property Group.
ESR is now in advanced stages of discussions with the remaining founders Marsh and Iliffe to acquire their stakes in the business.
By taking full control of LOGOS, ESR would become the manager of some of Australia’s best industrial and logistics assets, including the Amazon robotics fulfilment centre, Australia’s largest logistics facility, a $500 million estate in Sydney’s Eastern Creek, and the $4.2 billion Moorebank Logistics Park.
It would also allow ESR to expand its industrial platform further in China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Singapore and Vietnam.
LOGOS has circa 11.3 million sqm of property owned and under development, with total assets under management worth more than USD$ 22.9 billion across 184 industrial properties.
