GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation, has entered a partnership agreement with London-listed developer PIK Group to develop a large urban area in the city of Mytischi, located northeast of Moscow. The agreement stipulates that GIC Real Estate will pay approximately USD 233 mln (EUR 161 mln) for a 25% stake in the project.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
