GIC Boosts U.S. Assets with $8B IndCor Industrial Portfolio from Blackstone
December 3, 2014


As demand for commercial real estate assets increased, particularly among foreign investors, Blackstone decided to skip a planned IPO for IndCor Properties Inc. and sell the U.S. industrial platform with 117 million square feet of high-quality properties to GIC, Singapore’s sovereign wealth fund, for $8.1 billion.

“With oil and commodities down, exposure to a well-managed and geographically diversified real estate portfolio of this nature is very appealing to large global investors like GIC,” Borja Sierra, head of U.S. Capital Markets for Savills Studley, said in a prepared statement.

GIC Boosts U.S. Assets with $8B IndCor Industrial Portfolio from Blackstone




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