Industry fund REST has expanded its exposure to industrial property through a $1 billion partnership with investment manager Barings. 

The fund acquired an industrial asset comprising two modern warehouses located at 2-30 Saintly Drive in Truganina within 20 kilometres of the Melbourne central business district.  

They are tenanted by businesses using the space for digital commerce and third-party logistics, as the venture’s initial investment. 

These include Catch, the online retail businesses owned by Wesfarmers within the Kmart Group, and Effective Logistics, a specialised third-party logistics provider.