GIC to acquire European logistics

GIC to acquire European logistics
08/11/2016 , by , in ALLIED

Singapore sovereign wealth fund GIC has agreed to acquire European logistics property company P3 Logistic Parks for 2.4 billion euros ($2.7 billion).

GIC is acquiring P3 from TPG Real Estate and its partner Ivanhoe Cambridge in a deal that is expected to close by the end of the year.

“We believe P3’s strong growth will continue given its diversified, income-producing portfolio and substantial land bank,” Lee Kok Sun, chief investment officer at GIC Real Estate, said.

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