M&G has invested A$200m ($147m), taking a 20% stake, into the ESR Australia Development Partnership (EADP) which aims to develop an Australian real estate portfolio investing in the logistics sector.
The partnership is managed by ESR Group, an Asia-Pacific logistics real estate company, and was launched in 2020 with two Western Sydney logistics projects. It has an active developable land pipeline with an anticipated end value of A$1bn.