51 Tuas View Link
SINGAPORE, 2 Feb 2026 – PGIM’s real estate business has partnered with Northstar Capital (“Northstar”) to acquire 51 Tuas View Link, a strategically located industrial site in western Singapore. The investment was made on behalf of PGIM’s flagship Asia Pacific value-add real estate strategy.
The asset was acquired from Far East Organization and will be redeveloped into a five-storey, fully ramp-up, sustainability-aligned prime logistics facility with approximately 1.1 million square feet of gross floor area.
The acquisition continues PGIM’s strong investment momentum in Asia Pacific real estate, having completed approximately US$3 billion of transactions across sectors in 2025. The investment reinforces its conviction in the highly supply-constrained Singapore logistics sector, where an anticipated increase in goods flow — underpinned by trade growth and retail consumption — is supporting the rising need for modern logistics facilities.
David Fassbender, deputy head of Asia Pacific for real estate and senior portfolio manager of Asia-Pacific value-add strategies, PGIM, commented: “Amidst a rebound in real estate value, persistent supply shortages and growing demand for capital to meet sustainability requirements, value-add opportunities across Asia Pacific offer compelling potential for income growth. Our partnership with Northstar on the redevelopment of 51 Tuas View Link, a rare large prime logistics space in Singapore, underscores our strategy to secure investments with strong fundamentals, drive operational efficiency and create long-term value for investors.”
Located within the Tuas South precinct, 51 Tuas View Link benefits from an excellent location and islandwide connectivity, being close to the new Tuas Mega Port and Tuas Biomedical Park, as well as in proximity to the Ayer Rajah and Pan-Island Expressways, and the Tuas Checkpoint, offering seamless cross-border linkage to Malaysia.
Bart Coenraads, co-CEO, Northstar Capital, said: “As one of the prime logistics facilities in Singapore, 51 Tuas View Link offers a combination of scale, connectivity and land tenure that makes it ideally positioned to meet the evolving needs of today’s tenants. Together with PGIM, we look forward to developing a modern, future-ready facility, contributing to the continued growth of Singapore as the region’s leading logistics hub.”
The site currently comprises two blocks of one-storey warehouses, with total land area of approximately 457,000 square feet. PGIM and Northstar plan to redevelop the property into a modern facility featuring Green Mark Platinum certification, along with prime-grade specifications to meet future tenants’ increasing demand for operational efficiency and sustainability considerations.
ABOUT PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing more than US$1.5 trillion in assets2, PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and other retail investment vehicles. With 1,400+ investment professionals across 41 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.
PGIM’s real estate business is the world’s second-largest real estate investment manager, with US$216 billion in gross assets under management and administration1, and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
ABOUT NORTHSTAR CAPITAL
Northstar Capital is a leading Asia Pacific real estate investment firm focused on the logistics and industrial sectors. The firm specialises in the acquisition, development and management of high-quality logistics assets across key APAC markets, driven by a disciplined investment approach and a strong commitment to delivering long-term value for investors and customers.
With deep-sector expertise and an established track record in logistics real estate, Northstar leverages its regional presence and operational capabilities to develop best-in-class, future-ready assets that meet the evolving needs of occupiers. Sustainability, operational efficiency and strategic location are central to Northstar’s investment philosophy, supporting resilient performance across market cycles.
Northstar Capital is led by co-CEOs Chin Yarng and Bart Coenraads, whose long-standing partnership brings extensive experience in managing and developing prime logistics real estate across the region. For more information, please visit northstar-cap.com.
1As of 30 Sept. 2025, AUM reflected as gross. Net AUM is US$139 billion and AUA is US$49 billion. PGIM’s real estate business is the second-largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of 30 June 2025. Participation in the ranking is voluntary, and no compensation is required to participate in the ranking.
2As of 30 Sept. 2025.
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