Welcome!

News Feed Item

Continued Expansion of Goodman Japan Platform

TOKYO, Feb. 19, 2014 /PRNewswire/ -- Following the announcement of Goodman Group's (Goodman or Group) half year results, below is an update on initiatives being undertaken across the Japanese platform.

  • Goodman and Abu Dhabi Investment Council (ADIC) to increase their equity allocation to the Goodman Japan Development Partnership (GJDP) from US$500 million to US$800 million, which together with capital reinvestment provides capacity to continue its focused development program in Japan
  • GJDP's first project, Goodman Sakai, a 130,000 sqm, high specification logistics facility in Osaka Bay, which was 100% pre-leased in October last year, five months ahead of construction completion, is currently on track for completion in March 2014
  • With the success of Goodman Sakai, GJDP has commenced the construction of a further three projects - Goodman Obu in Nagoya, and Goodman Mizue and Goodman Ichikawa both in Tokyo Bay, with strong customer enquiry
  • Consistent with its medium-term strategy, GJDP has recently secured several additional, prime, inland development sites in Greater Tokyo, negotiated via off-market transactions to prudently continue its growth
  • Goodman Japan Core Fund (GJCF) capital raising for US$100 million to partially fund the acquisition of Goodman Sakai closed oversubscribed by existing investors, growing GJCF to US$900m
  • GJCF to launch a further capital raising for US$200 million to fund the acquisition of future opportunities currently under development by the Group, with strong interest from existing and new investors

GJCF has established itself as a high quality, unlisted investment vehicle, specialising in Japanese logistics assets. The fund is well positioned, with strong property fundamentals, 100% occupancy and rental growth emerging from the portfolio. The strength of the fund is demonstrated by the successful closing of the recent capital raising, which will see GJCF grow to US$900 million. The fund is also planning to undertake a measured amount of development of land held within the existing portfolio.

The quality of the Goodman Japan development team is highlighted by strategic off-market land acquisitions, successful pre-leasing activity and timely completion of projects, with strong market dynamics prompting the commencement of Goodman Obu in Nagoya and the two Tokyo Bay developments. To continue its medium-term growth, GJDP has also recently secured several prime, inland development sites in the Chiba Prefecture of Greater Tokyo in a population dense, growth corridor for acquisition and development in stages.

A key issue facing Goodman's customers in Japan is rising rents, due to escalating construction costs, higher land prices and availability of labour which is in short supply, given the positive impacts of "Abenomics". In response to this, Goodman has secured several, large land parcels for development in the Chiba Prefecture of Greater Tokyo in a well connected, high growth corridor with a dense and young population base. Prior to selecting this strategic location, Goodman conducted a detailed, market-wide customer survey with this location matching the needs of several of its Japanese and Global customers, while also enabling Goodman to offer its customers the lowest rents available in Greater Tokyo for well located, modern and high specification logistics space. The already excellent connectivity of the location will further benefit from several highway and expressway projects under construction, which the Japanese Government accelerated post the Tokyo Olympics win. GJDP's investment in this prime location is consistent with Goodman's market leading strategy and a perfect complement to its Tokyo Bay projects currently under construction.

The strong support of Goodman's global capital partners provides the ability for the Group to undertake developments and deliver a pipeline of new, high quality investment opportunities to GJCF on construction completion. Consistent with the positive market outlook, secured development pipeline and continued customer support, total assets under management in Japan are expected to organically grow to US$2.5 billion in the medium-term.

Goodman's Group Chief Executive Officer, Mr Greg Goodman said, "We are very pleased with the significant momentum in our Japanese business, with the success of Goodman Sakai demonstrating the value of the Group's Own+Develop+Manage business model. We have a very capable management team in Japan, strong support from our global capital partners and the discipline to prudently and organically grow our platform".

Paul McGarry, Chief Executive Officer of Goodman Japan said, "Our strategy in Japan is to focus on selectively pursuing high quality opportunities in prime locations where we identify excess customer demand with limited competition. We only invest in locations and opportunities where we see immediate value and long-term growth. Most of all, we listen to our customers to form the foundation of our investment decisions where we take a leading position rather than following the crowd. The recent success of the capital raisings in both GJCF and GJDP demonstrate the support of our global capital partners for Goodman's management platform in Japan and the execution of our market leading, focused and disciplined organic growth strategy".

For further information, please contact:

Mathew Werner
Group Corporate Communications Manager
Group Chief Executive
Tel: + 612-9230-7159

About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.

Goodman's global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., and Logan Best, Infrastructure & Network Engineer at Webair, focused on real world deployments of DDoS mitigation strategies in every layer of the network. He gave an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He also outlined what we have found in our experience managing and running thousands of Linux and Unix ...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.