Asset manager DWS expands Singapore logistics footprint with warehouse buy

DWS has acquired a Grade A logistics facility in Jurong as part of its "Asia core real estate strategy", the German asset manager said in a press statement on Wednesday. 

Financial details of the deal were not disclosed. 

Occupying more than 403,000 square feet, the facility comprises a four storey, ramp-up industrial warehouse, with ancillary office and car parking space.

The building, purpose-built in 2012, serves as the Asia-Pacific headquarters for its sole tenant, which is a third-party logistics operator, DWS noted. 

Located at 11 Sunview Way, the property is close to the upcoming Tuas Megaport, with connectivity to other parts of Singapore via major expressways and other arterial roads.

Lim Kian-Fong, head of transactions for South-east Asia at DWS, said: "Singapore's industrial sector has shown resilience in periods of slow growth, thanks to growing e-commerce trends and changing demographics. These attributes reflect positively on quality logistics such as 11 Sunview Way despite the challenging environment."

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David Edwards, portfolio manager at DWS, added that the company expects this acquisition to deliver "long-term stable cash returns" for its investors.

The deal comes after DWS similarly purchased a Coles logistics facility in Brisbane, Australia, and a logistics facility in Singapore last year.