PGIM Real Estate invests in China logistics

Logistics conceptPGIM Real Estate has completed two transactions for logistics properties in China totaling US$323 million. The real estate manager has partnered with local property firm, New Ease China, for the acquisitions. One deal involves a warehouse complex in Nanjing that was owned and developed by New Ease China, who will continue to manage the asset. The second deal involves the acquisition and development of warehouses in Shanghai and Langfang in partnership with New Ease China. “We expect continued strong interest and liquidity for logistics assets in China, given the structural shift towards e-commerce,” said Benett Theseira, head of Asia Pacific at PGIM Real Estate. “This shift will continue to fuel demand for quality assets in the right locations, supporting long-term growth across our portfolio.” PGIM Real Estate has been active in the Asian property market recently. The business sold an office building in Korea in May and acquired a commercial property in Singapore in April. © 2021 funds global asia

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