The infrastructure capital recycling machine in action
There’s a new favourite asset and it isn’t your warehouse
© Jingaiping
By Alex Lennane
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 Mingtiadi. It is the largest real estate deal made in Germany this year, and one of the largest in Europe.
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