SINGAPORE’S ELITE PARTNERS ACQUIRES WAREHOUSE IN POLAND

FOR OVER €30 MILLION (S$48.6 MILLION) FROM SUBSIDIARY OF

SOVEREIGN FUND GIC

The 58,500 sqm (629,700 sqft) facility is the largest warehouse in PepsiCo Poland’s distribution network

31 August 2020 – Elite Partners Capital (“Elite Partners” or “Elite”) announced today it has acquired a
warehouse in Mszczonów, Poland for more than €30 million (S$48.6 million) from a subsidiary of
Singapore’s sovereign wealth fund GIC. The transaction spearheads its build-up of a portfolio of
specialised logistics assets in Europe to address opportunities arising from COVID-19-related
disruptions.

Elite, a Singapore-based private equity firm, said its Elite Logistics Fund (the “Fund”) acquired the
warehouse from GIC’s wholly owned P3 Logistics Parks. Headquartered in the Czech Republic, the
latter also owns a second logistics hub in the Polish town of Piotrków.

The 58,500 sqm (629,700 square feet) facility is the largest warehouse in PepsiCo Poland’s distribution
network, and consolidates the global F&B leader’s logistics and warehouse processes, which were
previously run out of several different locations across the Central European nation.

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The transaction increases Elite’s presence in the Mszczonów Park to six buildings, with a total area of
over 230,000 sqm (2,476,000 square feet). It follows the acquisition of five buildings in March 2020,
which was one of the largest transactions in Poland’s logistics sector this year.

Situated south-west of Warsaw, the Mszczonów warehouse is well served by expressways and
motorways connecting the Polish capital to Berlin. It is also strategically located just an hour’s drive
from the Lodz terminal – the main terminal for the Chengdu-Lodz railway, linking Europe to China.

The latest acquisition is the Fund’s third since May 2020 and has proceeded despite the market and
economic disruption caused by the COVID-19 pandemic. The Fund is building a portfolio of European
assets focusing on specialised warehousing (in particular, for e-commerce fulfilment and food logistics
distribution), cold chain logistics as well as logistics infrastructure. Launched in January 2020, the Pan-
European fund is targeting such specialised assets in Poland and the United Kingdom – where it
already owns eight other properties – amongst other countries in Europe.

Elite Partners believes that recent supply chain disruptions – first due to Brexit, followed by the COVID-
19 pandemic since the beginning of 2020 – have opened up new challenges and opportunities for
specialised logistics in Europe.

Mr Victor Song, CEO and Managing Director of Elite Partners, said “We are elated by the completion
of this acquisition. The dedicated warehouse in Mszczonów is a vital part of our strategy to build up a
Pan-European portfolio of specialised logistics assets in Poland and the United Kingdom with specific
geographical focus in the key European logistics hubs.

“The COVID-19 pandemic has accelerated the need to establish dedicated warehouses for sorting and
distribution to meet the surge in e-commerce and cold chain to store and distribute food and
perishables at a time when more people are working from home. In turn, these require support from
specialised logistics infrastructure. Our Fund will cater to all three aspects,” added Mr Enoch Tan,
Portfolio Director of the Fund.

Mr Tan noted that Poland has cost advantages for e-commerce fulfilment, exceptional land, sea and
air connectivity and is an important component of China’s Belt and Road Initiative.

“Poland also serves as a bridge for commerce and investments between Europe and Asia. We intend
to leverage on Elite Partners’ expertise in private and public capital markets to unlock value and
opportunities in specialised logistics,” said Mr Desmond Wang, Executive Director of JMD Holdings, a
co-investor in the Fund and a unitholder of Singapore Exchange (SGX”)-listed Elite Commercial REIT.

Incorporated in 2017, Elite Partners has launched four funds to date. It is also the Sponsor of Elite
Commercial REIT, the first sterling-denominated Singapore REIT listed on the SGX.

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Media Contact

Elite Partners Capital

Emily Goh, emilygoh@elitepartnerscapital.com, tel: 67799288

WeR1 Consultants Pte Ltd

Isaac Tang, elite@wer1.net, tel: 67374844

About Elite Partners Capital

Incorporated in 2017, Singapore-based Elite Partners Capital is an alternative asset management

company focused on the management of yield-accretive global assets with high growth potential and
well-defined exit strategies. Backed by a team with proven expertise in private equity and real estate
investment trusts (REITs), its threefold investment philosophy aims to protect initial capital, preserve
investment value and create new growth opportunities.

Elite Partners Capital holds a Capital Market Services (CMS) licence from the Monetary Authority of
Singapore (MAS) under the Securities and Futures (Licensing and Conduct of Business) Regulations.

For more information, please visit: http://elitepartnerscapital.com

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