GIC acquires two more logistics facilities in Japan

GIC has bought two logistic facilities developed by Japanese real estate developer Daiwa House Industry for an undisclosed amount.

The assets in Takatsuki city of Greater Osaka and Tosu city of Greater Fukuoka were completed in 2023 and 2021, said the Singapore sovereign wealth fund on Monday (Dec 4).

“Both properties have modern building specifications that cater to a wide range of tenants,” GIC noted, adding that the assets are located in “regional logistics hubs with convenient transportation access via major roads and expressways”.

GIC has acquired several logistics facilities developed by Daiwa House this year, including a portfolio of six warehouses across Japan, which were purchased for US$800 million from Blackstone in April. In July, GIC also announced the deal to buy a warehouse located in Yatomi city in Greater Nagoya, developed by Daiwa House.

“This latest acquisition reflects GIC’s continued commitment to Japan and the logistics sector with trends such as e-commerce and supply chain optimisation supporting demand,” said GIC.