Warehouse Reits doing well in Australia

[SYDNEY] The usually staid market for Australian warehouses is heating up as investors chase a limited supply of properties for returns that are beating offices and malls.

Stockland, the nation's biggest diversified real estate investment trust, plans to double its holdings of industrial properties within five years.

Goodman Group, the world's second-biggest warehouse developer, raised A$1 billion (S$1.2 billion) for its Australian industrial property fund in the 12 months ended in June. Australian Reits plan to invest more than A$3 billion in the asset class over the next five years.