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