DWS has purchased a grade A logistics facility in Singapore as part of its Asia core real estate strategy.
The facility is located in Jurong, an industrial precinct in the west region of Singapore.
The building spans 403,000 square feet and has four floors, a ramp-up industrial warehouse, office space and car parking. In a statement, DWS said the facility was built in 2012 and is used as the Asia Pacific headquarters for its sole tenant.
“Singapore’s industrial sector has shown resilience in periods of slow growth thanks to growing ecommerce trends and changing demographics. These attributes reflect positively on quality logistics such as 11 Sunview Way [the property location] despite the challenging environment,” said Kian-Fong Lim, head of transactions for south east Asia at DWS.
The latest addition is DWS’ third for its Asia core real estate strategy and follows the acquisitions of logistics facilities in Singapore and Brisbane, Australia last year.
In 2019, real estate investment managers around the world raised a record US$225.8 billion in capital, with Asia Pacific vehicles accounting for $32.8 billion of the total.
The figure for the region represents a sharp increase of 21.9% from the previous year ($26.9 billion), and it is the first time that capital for Asia Pacific has exceeded $30 billion mark.
The findings were compiled in the Capital Raising Survey 2020, published by Anrev, Inrev and NCREIF.
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