Goldman Sachs, China’s New Ease Acquire $488m in Logistics Assets

Jul 13, 2021 | News

Goldman Sachs’s asset-management arm and New Ease, a Chinese logistics property developer and operator, jointly acquired $488 million of logistics assets across China, the latest evidence that the country’s warehouses are becoming hot commodities for global investors amid an e-commerce boom.

The assets, located in gateway cities such as Kunshan and Zhengzhou, include modern warehouses and real-estate properties that will be developed into logistics facilities, the companies said Tuesday. The projects will meet rising demand from e-commerce companies and logistics operators, they said.

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International investors have become increasingly interested in China’s logistics properties in recent years–even more so since the pandemic raised uncertainties in the traditional real-estate market–as a more defensive form of property investment that can allow investors to take a share of China’s fast-expanding e-commerce market.

“The continued development of China’s economy, especially through the rapid pace of advanced digitalization of commerce, has further accelerated the development of the logistics warehousing industry and accompanying integrated services,” said Luke Wei, managing director at Goldman Sachs Asset Management.

Source: Market Watch

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