GIC-Beacon Capital JV acquires office assets for more than $1b in Washington DC

GIC, Singapore’s sovereign wealth fund (SWF), has formed joint ventures (JVs) with a group of investors that include affiliates of Beacon Capital Partners, a real estate developer, owner and manager of office properties in major US markets, to acquire over 2.1 million square feet of office assets in the Washington D.C. metro, totalling more than $1.05 billion in aggregate asset value.