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GIC raises stake in Dexus Australian Logistics Trust to 49% for A$366.1M

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GIC raises stake in Dexus Australian Logistics Trust to 49% for A$366.1M

GIC Pte. Ltd. is acquiring an additional 24% interest in the Dexus Australian Logistics Trust's core portfolio for A$366.1 million.

The purchase will increase the Singaporean state investor's stake in the trust to 49%.

Dexus said in a Jan. 6 filing that transaction is expected to be settled on April 1. Proceeds from the transaction will be used to reduce debt and fund future commitments, Dexus said.