Goldman Sachs JV acquires $488m worth of Chinese logistics assets

Goldman Sachs Asset Management and New Ease, a Chinese logistics property developer and operator backed by private equity firm Warburg Pincus, have formed a joint venture to acquire logistics assets in China totaling $488 million.

The sellers were not disclosed.

The venture acquired two collections of logistics real estate projects in gateway cities throughout China, specifically located in the southeastern Chinese city of Kunshan and central Chinese cities Zhengzhou and Sanhe, and properties in central China’s Henan and Hubei provinces.

Investment into Asia Pacific logistics and industrial real estate have become a market top sector for capital. It will double within the next three to five years as investors look to increase exposure to the asset class, according to JLL. The firm forecasts logistics and industrial investment volumes to rise to bet