SINGAPORE (Dec 12): ARA Asset Management will partner integrated logistics property specialist Logos Group to establish a logistics real estate development and investment management partnership in the Asia Pacific region.
The transaction will see ARA transfer its entire holdings in both Cache Logistics Trust and its manager ARA Trust Management (Cache) to Logos.
Upon completion, ARA will retain control of the Manager through Logos.
Subject to regulatory approvals, the deal is expected to complete by the 1Q20.
As at end June this year, the ARA group and its associates collectively manage some $83 billion in assets across 23 countries. Its businesses include real estate investment trusts (REITs), private real estate funds, infrastructure and real estate management.
Logos currently manages equity commitments worth $4.2 billion under 16 ventures with over 4 million sqm of property owned and under development.
As at 12.26pm, units in are trading 0.5 cent higher, or 0.6% up, at 87 US cents, while units in Cache Logistics Trust are trading 0.5 cent lower, or 0.7% down, at 71.5 cents.
