2318 GMT - Stockland likely needs to bring in a capital partner to fund the development of a new logistics hub in Sydney, says Citi. Stockland has formed a JV with John Boyd Properties to turn a golf club at Kogarah into a multi-story logistics precinct close to Sydney airport. Citi estimates a 50% stake could involve a more than A$1 billion equity contribution, making a capital partnership likely. Analyst Suraj Nebhani notes that Stockland recently formed two logistics partnerships with KKR and M&G. "These may be likely to participate in this project, reducing the need for funding at a Stockland level," Citi says. It has a "buy" call on Stockland. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 29, 2025 19:18 ET (23:18 GMT)
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