GIC, Australian Reit Dexus form A$2b JV to invest in logistics

Singapore

SINGAPORE sovereign wealth fund GIC and Australian Reit Dexus have established a joint venture (JV) known as Dexus Australian Logistics Trust - a new A$2 billion (S$1.99 billion) unlisted trust - to invest in logistics properties Down Under.

Subject to approval, GIC will be the JV's foundation investor, taking an initial 25 per cent investment in the core portfolio, with put and call rights to acquire an additional 24 per cent by June 2020.