GIC pays Apollo €950m for 28 distribution facilities in Europe

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In what must surely be one of the last deals of 2019, Singapore sovereign wealth fund GIC has acquired 28 distribution facilities from Apollo Global Management.

The Maximus portfolio, costing some €950m, covers more than a million sq metres of industrial space across Europe and GIC said it would integrate it into its existing European warehouse arm, P3 Logistics Parks.

The deal with Apollo – a former shareholder in Ceva Logistics – will close in the first quarter of 2020, according to ...