Click here to close now.


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
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
SYS-CON Events announced today that Interface Masters Technologies, provider of leading network visibility and monitoring solutions, will exhibit at the 17th International CloudExpo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading provider of high speed networking solutions focused on Gigabit, 10 Gigabit, 40 Gigabit and 100 Gigabit Ethernet network access and connectivity products. For over 20 ye...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingl...
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
SYS-CON Events announced today that Machkey International Company will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Machkey provides advanced connectivity solutions for just about everyone. Businesses or individuals, Machkey is dedicated to provide high-quality and cost-effective products to meet all your needs.
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He will also demonstrate how easy it is to search and restore cloud application data using Cloudfinder.
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated a...
Clutch is now a Docker Authorized Consulting Partner, having completed Docker's certification course on the "Docker Accelerator for CI Engagements." More info about Clutch's success implementing Docker can be found here. Docker is an open platform for developers and system administrators to build, ship and run distributed applications. With Docker, IT organizations shrink application delivery from months to minutes, frictionlessly move workloads between data centers and the cloud and achieve 2...