ARA Asset Management takes over $1.4b Cache Logistics Trust

The REIT will tap into ARA’s Asia Pacific network.

ARA Asset Management (ARA) has acquired all the shares of CWT in Cache Logistics Trust (Cache) and the property manager of Cache.

According to Cache Logistics Trust CEO Daniel Cerf, the company has grown to over $1.4b. “We will continue to tap on ARA’s expanded network and resources in the Asia Pacific to further the growth of the REIT and its earnings,” he added.

Cache added that ARA, which currently manages close to $7b in gross assets in Australia, was a key contributor to the REIT’s successful diversification strategy. “The consolidated interest in the property manager would entail good continuity in the management of Cache’s properties on a day-to-day basis by its key management staff,” it added.

ARA currently manages $77.2b in gross assets handled by the ARA Group and its associates.

“In recent years, through ARA’s expanding presence in the region, and particularly in Australia, Cache has successfully embarked on a portfolio rebalancing and growth strategy, where it was a first mover among industrial S-REITs to acquire a logistics warehouse in Australia in early 2015,” it said.

Cache has since acquired 16 warehouses in total, with its Australia properties making up close to 30% of the total portfolio valuation and outnumbering the Singapore portfolio in the first quarter of 2018.