CIT in tie-up to explore Australian opportunities
Cambridge Industrial Trust's Q1 DPU falls 9.2% to 1.112 Singapore cents
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Singapore
CAMBRIDGE Industrial Trust (CIT) has entered into an agreement with Australian industrial property specialist Commercial and General (C&G), to explore opportunities in the Australian industrial market.
Philip Levinson, CEO of CIT's manager, told The Business Times: "I know the C&G team well, and have high regard for their real estate skills. What we've done is entered into a joint agreement, where they not only identify and execute opportunities and do the asset management, but they will also co-invest. They'll put their money into anything we do together. It's very important that we have that alignment of interest, because it means the relationship is a real partnership as opposed to a service arrangement."
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