Warburg Pincus-backed Asian warehouse developer and operator e-Shang Redwood has agreed to buy an 80% indirect stake in the manager of Cambridge Industrial Trust from National Australia Bank and investment firm Oxley Group, the firms said today.
No financial details were disclosed.
The deal marks e-Shang Redwood's continued expansion in Asia, following the firm's $300 million capital raising from Ping An Real Estate to fund Japan projects last year and a US$300 million pre-IPO round from a group of Chinese investors earlier this month.
"Our investment underscores our confidence in the underlying fundamentals and quality of Cambridge Industry Trust's portfolio of assets, which provide us a strong platform for further diversification and growth into ...
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