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    Home»Real estate»TOP 10 direct sovereign wealth fund real estate transactions for 2022
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    TOP 10 direct sovereign wealth fund real estate transactions for 2022

    December 28, 20222 Mins Read
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    Published on 28/12/2022


    Global sovereign wealth funds slowed direct investment in the real estate sector in 2022 compared to 2021. Interestingly, Singapore’s GIC Private Limited went on a buying spree of listed real estate investment trusts (REITs). This top 10 excludes platform and fund investments in the real estate sector. For example, these direct agreements leave out joint ventures such as the Abu Dhabi Investment Authority (ADIA) which partners with Landmark Properties for US student housing or ADIA’s JV with Rockpoint Group, LLC on US industrial properties. In addition, SWFI staff attempted to vet other buyers in certain transactions to gain SWF’s true exposure on each direct real estate sector transaction.

    Direct investments by sovereign wealth funds in the real estate sector

    Rank NAME BUYER ENTITY SELLER ENTITY AMOUNT (USD) CLOSE AT
    1 Capital Corporation STORE Limited Private GIC $7,000,000,000 09/15/2022
    2 Summit Industrial Income REIT GIC Private Limited, (Dream Industrial REIT) $4,383,228,000 11/07/2022
    3 student perch Limited Private GIC Brookfield Asset Management $2,083,009,500 23/12/2022
    4 Sani Ikos Group Limited Private GIC $1,500,000,000 09/22/2022
    5 Southern Cross Complex, Melbourne GIC Private Limited, (Charter Hall Group) Blackstone Group LP and Brookfield Asset Management $1,499,607,900 04/28/2022
    6 Seibu Holdings Japan Hospitality and Leisure Business Portfolio Limited Private GIC Seibu Holdings $1,300,000,000 02/10/2022
    7 58 Properties, Southeast US Industrial Portfolio Limited Private GIC MDH Partners $1,260,000,000 06/29/2022
    8 Aman Group Sarl Public Investment Fund (Cain International) $900,000,000 08/15/2022
    9 Paddington Central Assets Limited Private GIC British land $890,457,520 04/25/2022
    ten 7 Apartments, Copenhagen and Aarhus Limited Private GIC NREP AB $748,321,000 06/01/2022

    Source: Sovereign Wealth Fund Institute (SWFI.com) (SWFI Global Asset Owner Database).

    GIC has made a concerted effort in direct real estate transactions targeting markets such as Japan, Australia, USA and Europe. A notable transaction to highlight is GIC’s investment in 76 assets of Seibu Holdings Inc.’s hospitality and leisure business.

    Other honorable mentions include Norway Government Pension Fund Global’s purchase of a 50% stake in the Sony Center in Berlin for 677 million euros. The Sony Center is a Sony-sponsored eight-building complex located on Potsdamer Platz in Berlin, Germany, designed by Helmut Jahn. ADIA has invested in Mindspace Business Parks REIT.

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