Real Estate Investment Trust, Dexus (ASX:DXS) says its established a new circa $2 billion wholesale unlisted logistics trust with GIC.
The unlisted trust will invest in Australian logistics properties.
The Joint Venture will be seeded with assets from Dexus's existing industrial portfolio including $1.4 billion of core logistics properties and a $138 million development.
Dexus says the Joint Venture offers the ability to unlock the growth potential of the Dexus Industrial platform and increase third party assets under management to $14.3 billion.
The deal is subject to approval from the Foreign Investment Review board (FIRB).
Shares in Dexus (ASX:DXS) are trading 0.05 per cent lower to $10.45