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Singapore’s sovereign wealth fund, GIC, has set up a €300 million (S$447 million) partnership with Exeter Property Group to invest in logistics properties in Europe which offer easy access to motorways, water ports, airports and rail nodes.
Exeter is an industrial real estate investment management specialist.
The group will manage the partnership and will use its skills to acquire and actively manage the assets and implement value-add strategies including development and redevelopment to generate stable, long-term income returns.
“Over the long term, there will be an increasing demand for logistics space in these locations due to the growing trend of e-commerce, supply chain reorganisation and the increased use of third-party logistics providers,” the joint release said.
Separately, GIC also announced that its joint venture with India’s Brigade Group has acquired 100% stake on Brooke Bond Real Estate from from Hindustan Unilever. The property is located in Whitefield, one of Bangalore’s two major IT hubs.
Brigade Group will develop an IT Special Economic Zone (SEZ) of over 3 million sq. ft. in the landmark location.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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