PGIM Real Estate completed the acquisition of logistics properties from New Ease for $323m.

PGIM Real Estate, a provider of real estate equity, debt, and security investment strategies services, completed the acquisition of logistics properties from New Ease, an investor and operator of hubs and comprehensive platforms for urban logistics infrastructure, for $323m. “We’re excited to partner with New Ease China—an experienced, best-in-class real estate operator—on the acquisition and development of these modern and high-spec logistics assets. The properties are a significant boost to our regional portfolio due to their optimal locations and long lease tenures. We expect continued strong interest and liquidity for logistics assets in China, given the structural shift towards e-commerce. This shift will continue to fuel demand for quality assets in the right locations, supporting long-term growth across our portfolio," Benett Theseira, PGIM Real Estate Head of Asia Pacific.