Hines Mitsubishi Estate And Mbk Acquire Senoko Loop Logistics Property

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A new logistics asset at 15 Senoko Loop has been acquired by global real estate investment manager Hines, in partnership with Mitsubishi Estate and MBK Real Estate. The deal was successfully closed in June, with Sumitomo Mitsui Banking Corp Singapore branch providing financing for Hines. The property, which is currently leased to British American Tobacco, sits on a 263,328 sq ft site and features a four-storey facility with 446,509 sq ft of total gross floor area. It includes a climate-controlled warehouse space and an administration area. This marks Hines’s second industrial acquisition in Singapore and its first joint venture with Japanese institutional partners in the country. In total, Hines has secured 16 industrial assets across Australia, China, Japan, South Korea, and Singapore. This latest addition to their portfolio highlights their commitment to expanding their presence in Asia through strategic partnerships and value-add strategies.