Altis Property Partners, a Barings Company, expands its industrial portfolio in Eagle Farm, Queensland

Sydney, Australia, 16th February 2023

Altis Property Partners (“Altis”), a Barings Company, a market leading Australian real estate fund manager, is pleased to announce it has acquired a prime multi-tenanted industrial 12,034 sqm complex at 112 Cullen Avenue, Eagle Farm, Brisbane for A$ 32.5 million on behalf it’s diversified Altis Real Estate Equity Partnership 4 (“AREEP4”) fund.

Leased to six tenants, 112 Cullen Avenue forms part of the popular Trade Coast Precinct approximately 5 kilometres north of the Brisbane CBD. The Australia Trade Coast is Queensland’s second largest employment zone (outside of the Brisbane CBD) and is one of Queensland’s most sought after industrial locations.

The property is located within the Northshore Hamilton Priority Development area that will undergo significant redevelopment and infrastructure investment over the next decade to accommodate the Brisbane 2032 Olympic Games Athletes Village, which will provide a mix of commercial, retail, residential and retirement assets.

Long-term anchor tenant Brisbane City Council chose 112 Cullen Avenue for its ideal location between Brisbane airport and Brisbane CBD, and access to the major Brisbane and inter-state transport hubs.

James King, Director Investment Management and Capital at Altis said:

“We are thrilled to add this asset to Altis’ diversified AREEP4 fund due to its diversified income and near term positive rental reversion opportunity due to the short weighted average lease expiry (“WALE”). This acquisition reflects the exact type of asset the fund is targeting with the ability to access value by increasing the net rental income and extending the WALE in a tightly held precinct with the lowest vacancy rate of c0.6% in the Brisbane industrial market. Despite the headwinds caused by the inflationary environment we find ourselves in, we feel strong supportive fundamentals remain for the industrial sector at the right entry prices.”

Gareth Price, Director Capital Transactions at Altis said:

“One of the key characteristics which attracted us to this asset is the benefit from the future infrastructure investment in the precinct. The Northshore Hamilton Priority Development area will undergo a major transformation into a vibrant, mixed-use precinct. This new industrial acquisition fits within our strategy of buying in core markets, centrally and conveniently located to employment hubs, with access to key infrastructure.”

Shaun Hannah, Executive Director at Altis said:

“We are at a key juncture in this new real estate cycle, having to adjust to the higher interest rate environment and construction cost pressures that we have been experiencing. One of our biggest challenges is filtering the current heightened volume of deal flow to find the best relative value opportunities for our investors, particularly in the industrial and residential sectors.”


Altis Property Partners, a Barings Company
In August 2022, Altis was acquired by Barings, one of the world’s leading investment managers.

Founded in 2008, Altis Property Partners (Atis) is an Australian, private equity real estate investment company.  It has extensive experience and expertise in industrial, office, retail warehouse, residential and other specialist real estate sectors across the risk spectrum including core, value-add and development. Since inception Altis has acquired and developed over A$8 billion of real estate with current assets under management of ~A$6 billion. Learn more at

Altis was acquired by Barings in August 2022. Refer

Barings is a US$347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at

*As of 31 December 2022.