04.12.2014 - Singapore’s GIC Fund Wagers on U.S. Property
Singapore’s sovereign-wealth fund is making a big bet on U.S. industrial property, as a strengthening American economy and the growth of online shopping fuel demand for warehouses and distribution centers. A venture led by GIC Pte. Ltd. is buying IndCor Properties from Blackstone Group LP for $8.1 billion. The deal, announced Monday, is one of the biggest sales of industrial property ever and would put IndCor’s 117 million square feet under GIC’s control...............................................Full Article: Source
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