Singapore sovereign wealth fund GIC has announced that it will acquire a logistics facility in Yatomi city, part of the Greater Nagoya metropolitan area.

The asset is well‐located in a logistics hub near a major expressway and provides convenient access to the Nagoya central business district and other surrounding regions, GIC said in a statement on Thursday.

According to the statement, the warehouse was developed and completed in 2022 by Daiwa House Industry, a Japanese real estate developer engaged in various asset classes including logistics, residential, office, and retail.

As a young and modern asset, the facility is seen as attractive to a wide range of tenants serving both the regional local and regional areas.

GIC is a global investment firm established in 1981 to secure Singapore’s financial future.

As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally.

These include equities, fixed income, real estate, private equity, venture capital and infrastructure.

The firm has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries.

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