| Singapore’s GIC Pte Ltd, through international affiliates, recently invested in several property ventures around the world in an effort to achieve significant presence in various foreign markets. One of the fund’s latest investments include an agreement to acquire IndCor Properties, an industrial real estate company based in Chicago, from Blackstone Group LP, in a deal worth USD8.1 billion.
According to the Singaporean Business Times, IndCor owns nearly 11 million sqm of warehousing and distribution spaces in the United States. The company was formed by Blackstone in 2010 and currently operates in 23 states. The acquisition by GIC is expected to conclude in the first quarter next year...............................................Full Article: Source
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