Pgim Real Estate And Cadence Acquire Last Mile Logistics Asset Sydney A145 Mil
Nestled at 71 Science Park Drive, Lyndenwoods offers more than just a place to live—it is an invitation to a life of ease, luxury, and connection. Positioned conveniently near premier shopping centers and a diverse array of dining options, this development provides its residents with access to the finest experiences Singapore has to offer. From the exclusive attractions of Dempsey Hill to the lively and flavorful hawker stalls of Ghim Moh, the neighborhood surrounding Lyndenwoods caters to every palate and preference. By seamlessly blending accessibility, culinary exploration, and dynamic retail opportunities, Lyndenwoods Science Park Drive sets a new standard for contemporary living, making it an ideal choice for those in search of a vibrant and fulfilling lifestyle.
PGIM Real Estate and Cadence Property Group have joined forces to acquire St Mary’s Intermodal Terminal in Western Sydney for A$145 million ($120.6 million). This last-mile logistics and infrastructure asset is strategically located at 2 Forrester Road and covers a land area of approximately 1.7 million square feet, with a Gross Lettable Area (GLA) of 1.03 million square feet. The property also features a 1.5 km rail spur and a planned expansion of 215,278 square feet hardstand.
The partners have successfully secured a 20-year lease with the existing tenant, ACFS Port Logistics, one of the largest container logistics operators in Australia. As a leading real estate investment management company, PGIM Real Estate has recorded US$1.4 billion in Asia Pacific transactions in the first quarter of 2025.
The St Mary’s Intermodal Terminal offers direct freight rail access to Port Botany, providing a viable alternative to road freight routes with a capacity of up to 3,000 truck movements per day. Located 47 km west of Sydney’s CBD, the terminal is situated in the core western industrial precinct, a crucial logistics corridor.
“We see this as a unique asset that aligns with our infrastructure investment strategy and offers the potential for value creation through collaboration with the current tenant,” commented Cadence Property Group’s CEO, Charlie Buxton. He further added, “We are excited to welcome PGIM Real Estate as our new partner and are committed to building a strong and successful working relationship.”
This property marks Cadence’s fourth investment in low site coverage assets over the past two years, reaffirming their focus on land-rich, infrastructure-based industrial properties. This acquisition strengthens PGIM Real Estate’s expanding portfolio in the Asia Pacific region and reinforces its commitment to delivering quality and sustainable real estate investments.