Singapore's GIC acquires logistics facility in Japan for $400m

SINGAPORE -- Singapore's GIC has acquired a logistics facility in Japan for around $400 million, Nikkei Asia has learned, as the sovereign wealth fund sees growing demand in the e-commerce sector and companies push to enhance their supply chains in Asia's most active real estate market.

Located in Yokohama, south of Tokyo, the fully occupied four-floor property spans more than 126,000 square meters. Developed in 2022 by Japan's Daiwa House Industry, the modern facility has obtained the country's green certifications and counts as one of its largest assets built to date.