"These class A properties are well-located, have been leased long-term to strong credit tenants and provide a stable rental income," says GIC real estate president Seek Ngee Huat. He adds that the acquisition made GIC Real Estate the biggest investor in Uptown Munchen, and that the acquisition would boost its core global real estate portfolio. This means a string of high-profile buildings around the world including 30 Gresham St. in London; Shiodone City Center in Tokyo; Franklin Center in Chicago; Chifley Tower in Sydney; and the Seoul Finance Center in South Korea. "In light of improving prospects in the German markets, we will continue to look for investments in quality assets across the property sectors."
GIC manages more than $100 billion of global investments in stocks, bonds and properties, among other things. Last month was the first time the corporation had revealed the size of its portfolio or how its foreign investments have performed.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
