Fundraising - JUNE 24, 2022

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Sime Darby Property, LOGOS complete first closing of industrial fund in Malaysia

by Kali Persall

The Sime Darby Property Berhad and LOGOS SE Asia joint venture (SDPLOG) has completed a first closing of its inaugural Industrial Development Fund.

The close secured 70 percent of capital commitments for a fund size of as much as $250 million. It was anchored by Permodalan Nasional Berhad and Kumpulan Wang Persaraan as first-close investors, alongside Sime Darby Property and LOGOS Property as sponsors and co-investors.

The immediate capital available to the fund for deployment is about $114 million.

Funding will be channeled into the development of sustainable, large-scale, integrated modern logistics assets with green-building certification at its E-Metro Logistics Park in Bandar Bukit Raja, Klang, in Malaysia. At its maiden site, the 177-acre E-Metro Logistics Park, the fund is set to deliver logistics assets spanning 8 million square feet in gross lettable area. The first phase is expected to be completed for identified tenants in June 2023.

The fund a

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