Investors - JANUARY 13, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

ESR and GIC enter into $500m JV to invest in China logistics real estate

by Andrea Zander

ESR Cayman has entered into strategic partnership with Singapore’s sovereign wealth fund GIC Pte. to establish a joint venture, with a total equity commitment of $500 million.

“As home to the world’s biggest e-commerce market, demand for logistics properties will continue to thrive in China as infrastructure such as modern warehousing will be a backbone of the new economy, serving the online and offline needs of retail businesses,” said Jeffrey Shen, co-founder and co-CEO of ESR.

The joint venture, which marks ESR’s latest launch in a series of development vehicles, will focus on the development of institutional-grade, state-of-the-art logistics facilities in key cities across China. And it is ESR’s second partnership with GIC.

ESR Cayman has a total portfolio of 6.62 million square meters (71.26 million square feet), and total assets under management in China of more than $4.39 billion as of June 2019.

GIC has been actively expanding its logi

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.