Metro Holdings has expanded its presence in Singapore through the acquisition of a 26 percent stake in a portfolio of 14 business parks and high-spec industrial and logistics properties.
The total portfolio of 14 properties comprises six industrial properties, one business park, four high-spec industrial properties and three logistics properties. All are located in various parts of Singapore and within proximity to transportation nodes. The portfolio totals 1.75 million square feet.
The investment marks Metro’s entry into the industrial real estate market in Singapore and represents the first collaboration and strategic partnership with the sponsor of BIF, Boustead Projects Limited (BPL).
Meanwhile, BPL or its wholly owned subsidiary, would hold 25 percent of the units and notes, while 49 percent would be in the hands of third-party institutional real estate investors.
