Macquarie Goodman, the Australian investment trust, last week issued $264m in shares to institutional investors to part-pay for its e352m acquisition of Luxembourg-based warehouse developer Eurinpro.

The 8.8% Macquarie-owned trust also offered $38m to its own shareholders.

The Eurinpro acquisition will provide the trust with assets for a e300m European real estate fund it plans to launch later this year. It already has a e400m European unlisted industrial fund.

Macquarie Goodman CEO Greg Goodman told Bloomberg recently that the trust would end up with "one very large" pan-European logistics fund with an asset value of e2-3bn within five years. He described the Eurinpro deal as "highly strategic".

Eurinpro has built e850m worth of warehouses across Europe for retailers including Amazon and Sony. An unidentified private shareholder owned 52% of the company pre-acquisition, with the remainder held by the management.