Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

WTGoodman to Buy Warehouses From BR Properties for A$1.5 Billion

WTGoodman, a joint venture between Goodman Group and WTorre SA, offered to buy 34 industrial properties in Brazil from BR Properties SA for A$1.49 billion ($1.38 billion).

BR Properties has given Sao Paulo-based WTGoodman a period of exclusive due diligence, Goodman said in a statement filed with the Australian stock exchange today. The Brazilian real estate developer will use proceeds from the sale of the industrial and logistics sheds to reduce debt, pay dividends and buy back shares, it said in a separate filing yesterday.

Goodman, which managed A$24 billion of properties as of Sept. 30, is expanding in the U.S., China and Brazil in partnership with local operators and global investors. It’s growing as demand from tenants climbs for modern, well-located logistics properties, and investors are drawn to the relatively-high yields from warehouses.

“The proposed transaction is consistent with Goodman’s global investment and funds management strategy,” Goodman said in the statement.

The group sought in November 2012 to raise A$400 million to fund the joint venture with WTorre, which is focused on developing prime logistics and industrial properties. Goodman entered Brazil to capitalize on low vacancy rates, an undersupply of prime logistics space and an expanding middle class, the company said in its annual report on Sept. 27. The first development of the joint venture, in Rio de Janeiro, is expected to be completed this year, it said then.

Download: Meeting

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.