GIC to buy Japan logistics assets from Blackstone for $800 mln

SEIBU HOLDINGS

28/04/2023 07:03

TOKYO, April 28 (Reuters) - Singapore sovereign wealth
fund GIC has agreed to buy a portfolio of six logistics assets
in Japan for more than $800 million from Blackstone Inc  BX.N ,
the U.S. private equity company said, reflecting solid appetite
for logistics real estate.
    The transaction, comprising 4 million square feet of
warehouses located across Japan, is the largest real estate deal
in Japan this year in terms of value, according to data compiled
by Refinitiv.
    GIC, an investor in Japan for over three decades, has
recently notched up its deal activity as the country's interest
rates remain low. Last year, it bought hotel and leisure assets
from Japanese railway and hotel conglomerate Seibu Holdings
 9024.T .

 (Reporting by Makiko Yamazaki and Ritsuko Shimizu in Tokyo,
Yantoultra Ngui in Singapore; Editing by Jacqueline Wong)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))