Goodman’s UK managing director, Graham Pardoe, has left the Australian property group after just 10 months in the job.
Pardoe is joining David Keir’s Roxhill Developments as an equity partner. He is the second managing director of Goodman’s UK logistics arm to leave for Roxhill in less than a year, following the departure of Jason Dalby in January.
The developer and fund management company’s current development director, Charles Crossland, will replace Pardoe at the helm.
The moves come in the same week as the firm’s securing of a €1.2bn equity and debt package for its European Logistics Fund.
Goodman launched a €400m underwritten equity raising and secured a new €800m debt package for the fund which, with €1.6bn of assets, is Europe’s largest unlisted distribution property vehicle.
Chief executive Greg Goodman said the package would strengthen the fund’s balance sheet and provide about €500m of investment capability.
The €400m equity raising is being conducted through a rights issue underwritten by three investors in the fund – APG with €150m, PGGM with €50m and Goodman with €145m. The allocation structure under the offer will see Goodman scaled back, subject to demand from investors.
