Singapore sovereign wealth fund GIC has agreed to buy a portfolio of six logistics assets in Japan for more than $800 million from Blackstone Inc, the U.S. private equity company said, reflecting solid appetite for logistics real estate.
The transaction, comprising 4 million square feet of warehouses located across Japan, is the largest real estate deal in Japan this year in terms of value, according to data compiled by Refinitiv.
GIC, an investor in Japan for over three decades, has recently notched up its deal activity as the country’s interest rates remain low. Last year, it bought hotel and leisure assets from Japanese railway and hotel conglomerate Seibu Holdings.
