LOGOS has established a new investment partnership to acquire the 25-hectare REC site in Tuas South, Singapore.
The new partnership, comprising the Ivanhoé Cambridge and Canada Pension Plan Investment Board (CPPIB)–backed LOGOS Singapore Logistics Venture (LSLV) and new investors Bouwinvest Real Estate Investors and LaSalle Global Partner Solutions (LaSalle GPS), has acquired the S$585 million ($430 million) property via a long-term sale-and-leaseback agreement with the Singapore arm of global solar firm REC.
The partnership offers LOGOS and its investors a unique opportunity to invest in the Singaporean clean energy subsector with a high-quality, underlying master tenant in REC.
This is CPPIB’s sixth investment in Singapore through LOGOS.
LSLV has investments in six projects in Singapore with an expected gross floor area of 596,433 square meters (6.4 million square feet). The acquisition expands LOGOS’ Singapore portfolio into the renewable energy
