SINGAPORE (Jan 18): e-Shang Redwood is marking its foray into Southeast Asia with the acquisition of an 80% indirect stake in the manager of Cambridge Industrial Trust (CIT) from National Australia Bank and investment firm Oxley Group.

e-Shang Redwood is a pan-Asia logistics real-estate developer, owner and operator. The company has 6.5 million sqm of projects in operation or under development in China, Japan and South Korea with an additional 6 million sqm in the pipeline.

National Australia Bank holds 56% while Oxley holds a 24% stake in the manager of CIT, a real estate investment trust that owns assets such as warehouses and logistics properties. Mitsui and Co owns the remaining 20%.

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