PGIM and Northstar expand logistics portfolio with Tuas tower acquisition

Legacy warehouses will be replaced by five-storey logistics hub, boosting Singapore supply chain.

PGIM's real estate business and Northstar Capital expanded their logistics portfolio with the acquisition of 51 Tuas View Link in western Singapore, according to a joint statement.

The site, currently two one-storey warehouses, will be redeveloped into a five-storey logistics facility covering about 1.1 million square feet.

The property is near the Tuas Mega Port, Tuas Biomedical Park, major expressways, and the Tuas Checkpoint, offering tenants strong connectivity within Singapore and to Malaysia.

The facility is expected to achieve Green Mark Platinum certification, supporting operational efficiency and sustainability goals.

David Fassbender, deputy head of Asia Pacific real estate at PGIM, said the redevelopment “reflects growing demand for modern logistics space in Singapore.”

Bart Coenraads, co-CEO of Northstar Capital, added that the site’s “scale and location make it well-suited for tenants.”

PGIM completed about $3.81b (US$3b) in Asia Pacific real estate transactions in 2025, underlining its continued focus on industrial and logistics assets.

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