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Sign in Sign up for a FREE subscriptionDWS, Hines JV take ownership of logistics asset in Singapore
A joint venture consisting of DWS and Hines has acquired Bukit Batok Connection, a 378,000-square foot industrial asset in Singapore, from the portfolio of Soilbuild Business Space REIT, an industrial trust that was privatized by Blackstone and Soilbuild.
The nine-story Bukit Batok Connection is located in Jurong East in Western Singapore, adjacent to highly populated residential neighborhoods, making this a superior location for last-mile logistics companies to expand their operations.
This multi-story center features 6-meter (20-foot) floor heights, and ramp access to every floor and unit, with capacity for cars, vans and trucks. It is Hines’ tallest logistics asset.
The property is now almost 100 percent occupied, with 55 tenants representing a diversified pool of industries.
“We are thrilled to establish the Hines brand in Singapore, and finally a firm APAC presence with at least one project underway in all the gateway markets within the region,â€