Burstone Group, formerly Investec Property Fund, said on Wednesday that it has teamed up with Australia’s Phoenix Property Investors to buy a portfolio of industrial properties in Sydney for A$57.25m, bulking up its exposure in the Asia-Pacific region.

The deal will see APAC-focused private equity group Phoenix Property Investors own 80%, with the Irongate JV investing 20% equity and providing asset management services. ..

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