GIC invested in Yes! Communities in August 2016 when it acquired a 71% equity interest with another unidentified global investor. This transaction valued Yes! at over US$2 billion, people familiar said at the time.
Singapore’s GIC Pte is in talks to sell its stake in US landlord Yes! Communities Inc. to Brookfield Asset Management in what could be one of the biggest exits for the sovereign wealth fund in years, according to a person with knowledge of the matter.
The entire portfolio could be valued at more than US$10 billion ($12.84 billion), according to the person, who asked not to be identified discussing private negotiations. Talks are ongoing and there is no guarantee of a deal.
