Singapore sovereign wealth fund GIC and Valor Real Estate Partners have acquired Horizon Logistics Park Ireland for an undisclosed sum.
The asset comprises 25 last-mile logistics units alongside a further 260 acres of development land.
Located adjacent to Dublin Airport, the logistics hub is occupied by a diverse mix of domestic and international occupiers, with an average lease term of more than eight years.
Valor said the latest deal extends its pan-European logistics platform to 27m sqft and more than €6bn of assets under managerment across 12 UK and EU last-mile logistics cities.
Cane Napolitano, managing partner and CIO at Valor, said: “Ireland is a market in which we have an incredibly strong conviction and we are grateful to partner with GIC on this acquisition. Horizon is an exceptional asset that benefits from outstanding connectivity and a highly attractive income profile, whilst also offering significant longer-term value-creation potential.
“With EU-leading population growth supported by strong net migration and high Dublin e-commerce penetration, this is a market with powerful, structural tailwinds for high-quality logistics facilities. This transaction also demonstrates our ability to execute complex acquisitions in highly competitive markets and against a volatile backdrop.”
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