Singapore sovereign wealth fund GIC has agreed to acquire European logistics property company P3 Logistic Parks for 2.4 billion euros ($2.7 billion).
GIC is acquiring P3 from TPG Real Estate and its partner Ivanhoe Cambridge in a deal that is expected to close by the end of the year.
"We belie
Singapore sovereign wealth fund GIC has agreed to acquire European logistics property company P3 Logistic Parks for 2.4 billion euros ($2.7 billion).
GIC is acquiring P3 from TPG Real Estate and its partner Ivanhoe Cambridge in a deal that is expected to close by the end of the year.
"We believe P3's strong growth will continue given its diversified, income-producing portfolio and substantial land bank," Lee Kok Sun, chief investment officer at GIC Real Estate, said.