CapitaLand Investment (CLI), the asset management arm of Singapore-based real estate developer CapitaLand, has launched a logistics fund targetting properties in Southeast Asia.
It has linked up with two other property developers for the fund launch – Thailand-based Priska Holdings and Taiwan-based Ally Logistics Property (ALP).
The three firms have committed US$270 million initially, with an option to increase this to $540 million.
The hope is that the fund, which will be managed by CLI, will eventually have $1 billion in assets under administration.
According to the three partner firms, the fund is designed to meet the rising demand in Southeast Asia for warehouses which has partly come from the growth in e-commerce.
This demand is especially acute for so-called ‘smart’ warehouses, which employ elements of automation and robotics.
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