GIC has expanded its Japanese logistics portfolio with the acquisition of another facility in Yokohama city from Daiwa House Industry.
The Singaporean sovereign wealth fund has invested an unspecified amount to acquire the 126,000sqm four-storey facility in Greater Tokyo metropolitan area, completed in 2022.
This transaction follows GIC’s 2023 acquisition of three other logistics facilities developed by Daiwa House across Japan. In April last year, GIC also bought a portfolio of six warehouses across Japan from Blackstone for more than US$800m (€722m).
GIC – which has invested in Japan for more than 30 years – said it remained committed to Japan’s real estate sector.
“Specifically for logistics, GIC expects demand for modern logistics spaces to continue to grow, driven by e-commerce and supply chain optimisation trend,” it said.
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