Goodman Property Trust expands to become country’s biggest

Investors in the listed property trust also approved a resolution to raise $275 million in new equity.

With an estimated market capitalisation of $1.3 billion, the Trust specialises in industrial and business space.

Goodman has already received strong support from institutions, which fully subscribed to the $229 million on offer. The remaining $46 million being sought is being raised through the retail market at $1.43 a unit, the same price paid by institutions.

Chief executive John Dakin told the recent unit holders meeting that in the short time since proposing the acquisition, the Trust had signed up three additional new leases at Highbrook totalling 6,500sqm of office and industrial space.