“As we approached the end of the fund’s two-year mandate, we considered all possible options, including an IPO for the fund, which would allow Logistics Fund I to follow in the footsteps of its sister company [SGX-listed] Elite Commercial REIT which completed its IPO in February 2020,” says Enoch Tan portfolio director of Elite Logistics Fund I.
Elite Logistics Fund I, which is managed by Singapore-related Elite Partners Capital, has sold its entire portfolio of 18 properties to The Blackstone European Property Income Fund, managed by Blackstone Group.
The properties sold for a total consideration of EUR520 million ($792.2 million).
