GIC, a Singaporean sovereign wealth fund, acquired multiple logistics facilities developed by Daiwa House this year, including a portfolio of six warehouses across Japan purchased for US$800 million from Blackstone in April. These modern warehouses cover a combined four million square feet, averaging just five years old. Positioned strategically within Japan’s regional logistics hubs with convenient access to major roads and expressways, they boast an impressive 99% average occupancy, ensuring robust and stable cash flow. According to Blackstone, this transaction ranks among Japan’s largest reported logistics portfolio deals.
In July, GIC announced the acquisition of a warehouse in Yatomi city, Greater Nagoya. Recently, they acquired two additional logistic facilities developed by Daiwa House Industry for an undisclosed amount. GIC notes that these properties feature modern specifications catering to a diverse tenant base.
This acquisition highlights GIC’s ongoing commitment to Japan and the logistics sector, aligning with surging trends like e-commerce and optimized supply chains. Furthermore, Ken Sugimoto, GIC’s representative director and head of the Japan office, emphasized GIC’s 30-year history of real estate investment in Japan.