GIC to buy European logistics portfolio for 950m euros
Acquisition is one of the largest real estate investment deals in Europe this year
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Vivienne Tay
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Singapore
GIC has signed an agreement to acquire a pan-European logistics real estate portfolio, Maximus, for around 950 million euros (S$1.44 billion) from funds managed by affiliates of alternative investment manager Apollo Global Management.
This is in line with GIC's strategy to scale up its wholly-owned P3 logistics platform, Singapore's sovereign wealth fund announced on Friday.
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