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ARA, Logos in strategic deal to grow logistics platform in Asia-Pacific
ARA Asset Management has entered into a strategic transaction with Logos Group to establish a logistics real estate platform in the Asia-Pacific region.
As part of the deal, ARA Asset Management will transfer its entire holdings in both Cache Logistics Trust and ARA Trust Management (Cache) to Logos. ARA Trust Management (Cache) is the manager of Cache Logistics Trust.
Upon completion, ARA will retain control of the manager through Logos.
Subject to regulatory approvals, the deal is expected to be completed by the first quarter next year.
As a globally integrated real assets fund manager, the ARA group and its associates manage more than S$83 billion in gross assets, as at June 30.
Separately, logistics property group Logos manages S$4.2 billion of equity commitments, with over four million square metres of property owned and under development.
Units in ARA Hospitality Trust closed at 86.5 US cents, up 0.5 US cent on Wednesday, while units in Cache Logistics Trust closed flat at 72 Singapore cents.