Singapore sovereign wealth fund GIC and pan-European logistics real estate investor Valor Real Estate Partners have completed the acquisition of Horizon Logistics Park Ireland, a 1.8 million square foot logistics hub located adjacent to Dublin Airport, in a deal valued at circa €500m.

According to IPE Real Assets, the asset comprises 25 last-mile logistics units alongside 260 acres of development land, occupied by a diverse mix of domestic and international tenants with an average lease term of more than eight years. The acquisition extends Valor's pan-European logistics platform to 27 million square feet and more than €6bn of assets under management across 12 UK and EU last-mile logistics cities.

Cane Napolitano, managing partner and CIO at Valor, said: "Ireland is a market in which we have an incredibly strong conviction and we are grateful to partner with GIC on this acquisition. Horizon is an exceptional asset that benefits from outstanding connectivity and a highly attractive income profile, whilst also offering significant longer-term value-creation potential. With EU-leading population growth supported by strong net migration and high Dublin e-commerce penetration, this is a market with powerful, structural tailwinds for high-quality logistics facilities."

Napolitano added that the transaction demonstrates Valor's ability to execute complex acquisitions in highly competitive markets and against a volatile macroeconomic backdrop, underscoring the firm's confidence in Ireland as a long-term logistics investment destination.

Dublin Airport's position as Ireland's primary air freight gateway and its proximity to the M50 motorway network make Horizon Logistics Park one of the most strategically situated logistics assets in the country. The park's connectivity to both air and road infrastructure positions it to serve the full spectrum of last-mile and regional distribution requirements across the Greater Dublin Area.

For the Irish logistics sector, the acquisition by two major international investors reflects sustained institutional confidence in Ireland's logistics real estate fundamentals, driven by strong e-commerce growth, population expansion and a structural undersupply of high-quality logistics space in key urban markets.