GIC unit to acquire 33 retail logistics assets in Germany

Singapore

GIC's wholly-owned unit, P3 Logistic Parks (P3), is expanding its presence in Germany, having inked an agreement to acquire 33 retail logistics assets.

The real-estate portfolio is in prime urban locations in major German cities and towns, and spans over 650,000 square metres (sq m) of space, GIC said in a release on Thursday. GIC did not comment on the value of the acquisition.