GIC sets up partnership with Exeter Property Group

Singapore’s sovereign wealth fund GIC has set up a €300 million (S$447 million) partnership with Exeter Property Group. The partnership aims to invest in logistics properties in Europe, which offer easy access to motorways, water ports, airports and rail nodes.

Exeter is a specialist in logistics, light industrial and business park properties. The company said it will use its skills to acquire and actively manage the assets and implement value-add strategies such as development and redevelopment to generate stable, long-term income returns.

Over the long term, the partnership expects an increasing demand for logistics space in these locations due to the growing trend of e-commerce, supply chain reorganisation and the increased use of third-party logistics providers.

Separately, GIC’s joint venture company in India, Brigade Properties, has acquired Brooke Bond Real Estate from Hindustan Unilever. The property is located in Whitefield, one of Bangalore’s two major IT hubs.

Brigade Group will develop an IT Special Economic Zone of over 3 million square feet in the landmark location.

Source : Channel NewsAsia – 23 Mar 2015

Join The Discussion

Compare listings