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Logos Property sets up Singapore office, seals first local warehouse deal
LOGOS Property Group on Wednesday said it has set up an office in Singapore to focus on expanding throughout South-east Asia.
It has also started its initial investment venture, the Logos Southeast Asia Venture, with an initial commitment of S$150 million from real estate firm Ivanhoe Cambridge.
Logos' strategy is to own and build high-quality, modern industrial and logistics properties in key South-east Asian markets. The venture has secured initial investments and completed the acquisition of a stake in two Singapore logistics properties alongside Yang Kee Logistics, a home-grown warehouse owner. This also marks a strategic partnership with Yang Kee to further develop logistics facilities in Singapore with futuristic features and technologies, Logos said.
Logos plans to raise more equity commitments from investors and form partnerships with local and international end-users and operators in Singapore and select markets in South-east Asia. The group is also looking at development projects in Singapore and the region.
Macquarie Capital (Australia) acted as exclusive financial adviser for the transaction, and as sole lead manager and arranger for the capital raising.