Singapore’s GIC acquires stake in Brooklyn’s Industry City: Report

New York. Photo: ben o'bro/unsplash

GIC Pte Ltd, Singapore’s sovereign wealth fund, has acquired a portion of Brooklyn’s Industry City, New York’s largest privately-owned industry property, from investment firm Angelo Gordon, according to a Wall Street Journal report.

The report did not mention how much GIC paid for the stake in the Sunset Park property but the deal reportedly valued the sprawling industrial park at $1.3 billion.

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