DWS buys Singapore logistics facility
Asset manager expands Asia-Pacific real estate footprint into the Singapore logistics market with purchase of 150,000-square-feet industrial warehouse
DWS has acquired 29 Tuas Bay Drive, Tuas, a logistics facility in Singapore, as part of its Asia core real estate strategy, the asset manager announced on April 23.
As a flexible single-story industrial warehouse with ancillary office, the asset occupies close to 150,000 square feet and is being 100% let to a sole tenant dominant in the production of oil and gas equipment.
Strategically located in the Western industrial area of Singapore, the property is in close proximity to the Tuas second-link checkpoint connecting to Malaysia, and the new Tuas Megaport.
“A robust manufacturing sector combined with limited supply made this first acquisition in Singapore logistics an attractive investment for DWS,” says Victoria Sharpe, head of real estate, Asia Pacific at DWS. “In line with our Asia core real estate strategy, we are pleased to add this good quality, well located, prime logistics asset to our Asia portfolio.”
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23 Apr 2019