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Logos completes S$585M sale-and-leaseback deal

Australia-based Logos Property Pty. Ltd. has completed the acquisition of a 25-hectare industrial project in Singapore in a S$585 million sale-and-leaseback deal, Mingtiandi reported, citing CBRE, which brokered the transaction.

The 151,810-square-meter integrated manufacturing and warehouse facility was acquired from a local unit of Norwegian solar giant REC.

According to the publication, CBRE said the deal is the largest single-asset sale in Singapore in 2018. Logos did not disclose financial details of the acquisition in a press release. The publication also noted, citing unnamed sources with knowledge of the deal, that the transaction value was more than the S$585 million figure.

The deal was agreed in October 2018.