SINGAPORE (EDGEPROP) - Global real estate investment manager Hines has jointly acquired a logistics asset at 15 Senoko Loop with Mitsubishi Estate and MBK Real Estate. Hines announced this in a press release dated July 2.

The sale and leaseback deal was closed in late June, with Sumitomo Mitsui Banking Corp Singapore branch as the financing partner for Hines. The building is currently leased to the seller, British American Tobacco, which is the anchor tenant.

The property sits on a 263,328 sq ft site with a four-storey facility that has about 446,509 sq ft of total gross floor area. It comprises climate-controlled warehouse space and an administration area.

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This is Hines’s second industrial deal in Singapore, and its first joint venture with Japanese institutional partners in the country. To date, Hines has secured 16 industrial assets totalling five million sq ft in Australia, China, Japan, South Korea and Singapore.