RBC Investor Services Trust, a specialized provider of asset services, custody, payments and treasury services, completed the acquisition of a 10% stake in ESR Australia Logistics Partnership, an operator of 37 prime logistics properties, for $45m. “As the Group’s premiere pan- Asia REIT vehicle, ESR-REIT remains an integral part of our rapidly expanding new economy real estate platform. We remain committed to ESR-REIT and its long-term growth by providing it with continuous access to our strong portfolio of best-in-class logistics properties valued at approximately $27bn across the APAC region, as well as financial and operational support as it continues to scale up. While structural changes stemming from the pandemic are driving REITs to transform their portfolios in response to the acceleration of e-commerce and shifts in global supply chain management, we are confident that our continued commitment and support will ensure ESR-REIT is well positioned to tap into the rising demand for quality logistics infrastructure and thrive on the transformation of the market," Jeffrey Shen and Stuart Gibson, ESR Co-founders and Co-CEOs.