Singapore’s GIC buys logistics facility in Japan from Daiwa House

Singapore sovereign wealth fund GIC announced that it is acquiring a logistics facility in Japan from real estate developer Daiwa House Industry.

GIC did not disclose the value of the transaction in its statement released Thursday.

The camp is located in the city of Yatomi in Greater Nagoya, GIC said. It was developed and completed by Daiwa House in 2022, it said.

“As a young and modern property, the facility is attractive to a wide range of tenants serving both the local and regional communities,” said GIC.

GIC, an investor in Japan for over three decades, recently increased its deal activity as interest rates in the country remain low. In April, the company announced it had acquired a portfolio of six logistics properties in Japan from Blackstone Inc. for more than $800 million.

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