The government of Singapore has committed EUR 75 mln to Rynda en Primeur, a fund that invests in real estate in provincial areas of France. The fund is managed by Rynda Property Investors and has already acquired EUR 128 mln in assets. Singapore made the investment through its real estate investment arm GIC Real Estate.

The government of Singapore has committed EUR 75 mln to Rynda en Primeur, a fund that invests in real estate in provincial areas of France. The fund is managed by Rynda Property Investors and has already acquired EUR 128 mln in assets. Singapore made the investment through its real estate investment arm GIC Real Estate.

'Rynda en Primeur provides investors with access to the attractive yields of French provincial property markets where international investor interest is rapidly growing,' commented Rynda ceo Michael Walton. 'Rynda backed their confidence in this sector by not only purchasing assets in advance of fund raising but also by co-investing, therefore aligning our interest with our clients.' Rynda expects to announce further investors and acquisitions soon.

Jones Lang LaSalle Corporate Finance advised Rynda on the transaction as placement agents.