Singapore's GIC to buy logistics properties in Europe for US$1 billion

Reuters
Reuters12/13/2019 09:13 AM GMT+08  • 1 min read
Singapore's GIC to buy logistics properties in Europe for US$1 billion
SINGAPORE (Dec 13): GIC, Singapore’s sovereign wealth fund, said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management’s affiliates for about 950 million euros ($1.4 billion).
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SINGAPORE (Dec 13): GIC, Singapore’s sovereign wealth fund, said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management’s affiliates for about 950 million euros ($1.4 billion).

The portfolio comprises 28 logistics assets across Europe, including in Germany, Poland, Slovakia, Netherlands, Belgium and Austria, GIC said in a statement on Friday.

It said the deal would help scale up its P3 logistics platform. The firm bought P3 Logistic Parks three years ago.

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