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Industrial investment sales rose over three-fold in Q3

The investment sales increased to $673.4m.

Investment sales in the industrial sector rose by 240% quarter-on-quarter to $673.4m in the third quarter, on the back of more transactions and the size of certain sales, according to Savills.

In a statement, Savills said the figure was also more than double the $256.9m investment sales recorded in the same period in 2021.

READ MORE: Overall prices for industrial property up 2.4% in Q3: report

The largest deal in the quarter was Ascendas Reit’s purchase of a cold storage facility from PGIM Real Estate for $191.9m. It is also the first cold storage facility it acquired in Singapore.

Savills noted that this is the second consecutive quarter the investment sales in the sector increased.

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