Goodman to establish $2.1bn Highbrook fund

Thu, 29 May 2025

Goodman Property Trust has announced an agreement to establish a new open-ended property fund that will hold Highbrook Business Park.

The fund, which is valued at $2.1 billion, will be set up as a limited partnership.

Goodman will have a 72% ownership interest in the fund, while a global investment manager will hold 12% and Goodman Group will have a 16% stake.

Goodman Property Services, the manager of Goodman Property Trust, said the decision to sell a minority interest in Highbrook Business Park was driven by the desire to recycle capital into higher return development opportunities.

The new fund is expected to provide Goodman Property Trust with $1.19 billion in cash, which can be used to pay down debt and support future investments.

The investment in the fund is pending receipt of financier and regulatory approvals.

Unitholder approval is not required for the transaction.

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