Singapore's GIC to buy logistic facility in Japan from Daiwa House
21/07/2023 04:32
SINGAPORE, July 21 (Reuters) - Singapore sovereign
wealth fund GIC GIC.UL said it was acquiring a logistics
facility in Japan from real estate developer Daiwa House
Industry 1925.T .
GIC did not disclose the value of the transaction in its
statement issued on Thursday.
The warehouse is situated in Yatomi city in the Greater
Nagoya metropolitan area, GIC said. It was developed and
completed in 2022 by Daiwa House, it added.
"As a young and modern asset, the facility is attractive to
a wide range of tenants serving both the regional local and
regional areas," GIC said.
GIC, an investor in Japan for over three decades, has
recently ramped up its deal activity as the country's interest
rates remain low. In April, it announced an acquisition of a
portfolio of six logistics assets in Japan for more than $800
million from Blackstone Inc BX.N .
(Reporting by Yantoultra Ngui; Editing by Himani Sarkar)
((Yantoultra.Ngui@thomsonreuters.com;))