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Singapore’s sovereign wealth fund buys stake in Industry City

Singapore’s sovereign wealth fund has acquired a stake in Sunset Park’s Industry City. The transaction involving GIC, one of the largest real estate investors in the world, will value the sprawling industrial park at $ 1.3 billion, according to the Wall Street Journal. The size of GIC’s stake, which it acquired from property owner and investment firm Angelo Gordon, is undisclosed. The deal comes as the redevelopment of the waterside industrial park enters a new phase.

The Real Deal New York

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