Singapore-based SC Capital Partners has sold a 210,000sqm portfolio of industrial and logistics assets in China to a global institutional investment manager.

The four assets, located within the Yangtze River Delta region, were held in the closed-end opportunistic Real Estate Capital Asia Partners V (RECAP V) fund.

SC Capital declined to disclose the identity of the investor or the value of the transaction except to say that the assets significantly outperformed RECAP V’s target return of 20% gross internal rate of return.

IPE Real Assets understands that after this transaction, RECAP V will have two other logistics assets left in China. One of those is about to be sold and the other is under development.

RECAP V, established in 2017, has made 27 investments to date, mainly in Australia, China, Japan and South Korea. Other than industrial/logistics, the fund also invests in senior living, data centres and special situations

Suchad Chiaranussati, chairman and founder of SC Capital Partners, said the industrial and logistics sector continued to benefit from the compelling demand-supply dynamics in Asia today.

“With significant expertise and strategic partnerships, we believe that we are well-positioned to take advantage of the development, value-add and core investment opportunities available in China and across the region,” he said.

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