Deutsche Bank unit DWS acquires warehouse in Singapore

DWS, the asset manager mostly owned by Deutsche Bank, said Wednesday it has acquired a Grade-A logistics facility located in Singapore as it seeks long-term stable cash returns in line with its Asia core real estate investment strategy.

This marked the third acquisition for the strategy, following the purchase of the Coles logistics facility in Brisbane, Australia, and a second logistics facility in Singapore in 2019, DWS said in a statement.

Located in Jurong, a key industrial precinct in the west region of the city-state, the building serves as the Asia Pacific headquarters for its sole tenant, a leading third-party logistics global operator. Spread over 403,000 square feet, the facility comprises a four-storey, ramp-up industrial warehouse, with ancillary office space and car parking, it said. 

“Given the strength of the asset, location and tenant profile, we expect this acquisition to deliver long term stable cash returns for our investors in line with our Asia core real estate investment strategy,” DWS portfolio manager David Edwards said.