Agent.sg / Property news / GIC to buy European logistics portfolio for 950m euros

GIC to buy European logistics portfolio for 950m euros

Fresh property news selection on December 13. 2019, Friday.

Today's news selection contains the latest real estate related stories. Do you own a real estate/property/finance blog or news site? Send the URL to [email protected] so our editors can use them as sources.


GIC has signed an agreement to acquire a pan-European logistics real estate portfolio, Maximus, for around 950 million euros (S$1.44 billion) from funds managed by affiliates of alternative investment manager Apollo Global Management.

This is in line with GIC's strategy to scale up its wholly-owned P3 logistics platform, Singapore's sovereign wealth fund announced on Friday.

Headquartered in Prague, P3 manages and develops European warehouse properties, and has operations in 13 countries. It has over 5.3 million square metres (sq m) of assets under management and land bank for further development.

The Maximus portfolio spans more than 1 million sq m of industrial space. It comprises 28 assets located in core logistics hubs such as Germany, Poland, Slovakia, Netherlands, Belgium and Austria. P3 will manage the portfolio.

Maximus has a diversified tenant base which includes companies in the automotive, e-mobility, distribution, e-commerce and last-mile logistics sectors.

Read the full article here »


Real estate related news stories from Singapore


Asian property news round up


Outdoor christmas decoration


Previous news selection

CDL chief calls for easing of property curbs


About Agent.sg Daily Property News Selection

Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.

Contribute

If you also want to share an amazing article that you come across and it fits in the real estate / economy topics, just let it us know in e-mail. We don't guarantee to publish all, but we will some of them for sure. If you want us to bring out your own article, please contact us at [email protected]. Some references would also be highly welcome to send us from among your previous publications.

Advertise

Are you looking for some online distribution channels? You find one. Haven't you found a place for your traditional means of advertisement, like PR article or display banner? You've never been so close, just e-mail us at [email protected] and our colleague will get in touch with you.