GIC teams up with Exeter Property to invest in logistics properties in Europe

SINGAPORE - Sovereign wealth fund GIC has established a partnership with Exeter Property Group, an industrial real estate investment management specialist.

The €300m (S$447 million) partnership will invest in logistics properties in key European distribution hubs. These will offer easy access to motorways, water ports, airports and rail nodes.

"Over the long term, there will be an increasing demand for logistics space in these locations due to the growing trend of e-commerce, supply chain reorganisation and the increased use of third party logistics providers," they said in a joint statement.

The partnership will build a portfolio by targeting value-add opportunities in core locations. Exeter will manage the partnership and use its integrated real estate operator skills to acquire and actively manage the assets, and implement value-add strategies as well.

"We believe that by combining our strength as a long-term value investor with Exeter's leading logistics management skills, our partnership will be able to create a high quality portfolio of logistics assets," said Mr Christopher Morrish, regional head of GIC Real Estate for Europe.