Partners Group and EZA Hill Property Management, backed by Hillhouse Investment’s real asset arm Rava Partners, have agreed to acquire four industrial and logistics properties in Singapore for S$306m ($238m), Bloomberg reports.

The assets, covering over 186,000 square metres, were sold by CapitaLand Ascendas REIT at a 21% premium to their original purchase price and a 6% premium to valuation. Partners Group will take a majority stake in the portfolio, which adds to growing private equity activity in Singapore’s logistics sector.

“This transaction reflects the sustained momentum in Singapore’s industrial and logistics market, driven by a strong local currency and favourable lending conditions,” said Loh Lee Fen, CBRE’s Head of Singapore Industrial Capital Markets, who brokered the deal.

In a separate divestment, the REIT is selling an empty industrial building for S$23m to another buyer. The divestments are expected to close in Q4 2025.

The acquisition builds on EZA Hill’s regional expansion, following its $148m purchase of an Indonesian logistics portfolio last year. It also highlights strong institutional demand for the sector, with Brookfield and Warburg Pincus-backed Vita Partners among the other recent investors in Singapore industrial real estate.

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