Goldman Sachs Expands Australian Real Estate Holdings with Acquisition of Seven Logistics Properties

Goldman Sachs is in the news after its alternative investments platform reportedly acquired seven logistics properties in Australia, marking a significant expansion of its real estate portfolio. Although the exact amount spent on the acquisition remains undisclosed, the properties are situated in key cities including Adelaide, Brisbane, Perth, and Melbourne. These “last-mile” logistics assets play an important role, as they are urban warehouses that help with the final stage of delivery to customers.

Nikhil Reddy, the head of Asia Pacific real estate for Goldman Sachs Alternatives, emphasized the firm’s ongoing commitment to investing in Australian real estate. Reddy pointed out that acquiring last-mile logistics properties demonstrates Goldman Sachs’ belief in the potential of this sector for their investors. The company has a proven track record in Australia, having invested over A$13 billion in various assets since 2012, with a significant focus on industrial properties, commercial spaces, and data centers in recent years.

In addition to the recent acquisitions, Goldman Sachs has made headlines for several management changes within its investment banking team. The bank recently reported strong second-quarter results, exceeding consensus estimates with revenues of $12.730 billion and earnings-per-share of $8.62. While Goldman Sachs shares are slightly down, analysts maintain a mostly positive outlook, with a general price target range indicating potential growth in the coming year. The current trading price for GS shares is around $486.82.