GLP To Sell Five Assets To GLP J-REIT

GLP, the leading global provider of modern logistics facilities, will sell five wholly-owned properties in Japan to GLP J-REIT. The sale price of JPY38.1 billion (US$306 million) is in line with the properties’ fair market value as of 30 June 2015. The properties comprise a total gross floor area of 203,000 sqm (2.2 million sq ft).

• GLP plans to sell five wholly-owned properties in Japan to GLP J-REIT forJPY38.1 billion (US$306 million)
• Fund management platform grows to US$27.4 billion
• Transaction is consistent with GLP’s capital recycling strategy

Tokyo, 10 August 2015 - GLP, the leading global provider of modern logistics facilities, will sell five wholly-owned properties in Japan to GLP J-REIT. The sale price of JPY38.1 billion (US$306 million¹) is in line with the properties’ fair market value²as of 30 June 2015. The properties comprise a total gross floor area of 203,000 square meters (“sqm”) (2.2 million square feet (“sq ft’)).

Following this transaction³, GLP’s fund management platform will grow to US$27.4 billion. The transaction is expected to be completed in September 2015.
 

Mr. Ming Z. Mei, Chief Executive Officer of GLP said: “GLP J-REIT provides GLP with a long-term vehicle for capital recycling in Japan. Fund management is an important and growing part of our business. It contributes significant capital to fuel sustainable long-term growth, while enhancing returns on GLP’s invested capital. We are committed to expanding this platform further.”
 

GLP J-REIT, listed on the Tokyo Stock Exchange in December 2012, is a real estate investment trust focused on operating logistics properties in Japan. GLP is the property and asset manager of the J-REIT. GLP J-REIT has the right of first look on a further 20 properties (US$1.8 billion) wholly owned by GLP.
 

APPENDIX

	Property  Name	Location	GFA (sqm)	GFA (sq ft)	Sale price (JPY billion)	Sale price (US$ million)
1	GLP Shinkiba	Tokyo	19,674	211,800	11.5	93
2	GLP Sugito	Greater Tokyo	58,832	633,300	8.3	67
3	GLP Tosu I	Greater Fukuoka	73,037	786,200	9.2	74
4	GLP Narita II	Greater Tokyo	28,110	302,600	3.7	30
5	GLP Narashino	Greater Tokyo	23,564	253,600	5.3	43
	Total		203,218	2,187,000	38.1	306

 About GLP (www.glprop.com)
 

GLP is the leading global provider of modern logistics facilities. Its growth strategy is centered on being the best operator, creating value through developments and expanding its fund management platform. GLP’s customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies.

In July 2015, GLP entered into a definitive agreement to acquire a US$4.55 billion US logistics portfolio from Industrial Income Trust, with the intention of injecting the portfolio into its fund management platform. This transaction enlarges GLP’s US footprint by 50% to 173 million sq ft (16 million sqm), with GLP becoming the second largest logistics owner and operator in the US within a year of market entry. Subsequent to this transaction, GLP’s global portfolio will encompass more than 500 million sq ft (47 million sqm) valued at approximately US$33 billion. The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

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GLP Investor Relations & Media Contact:

Ambika Goel, CFA

SVP- Capital Markets and Investor Relations

Tel: +65 6643 6372

Email: agoel@glprop.com

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This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," “intends,” “foresees,” “estimates,” “projects,” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct. Useful Tips and Articles straipsniai.org

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¹ Unless stated, all exchange rates are reported as 1 USD = JPY124.41, the closing exchange rate as of 5 August 2015

² These appraisals by CBRE were commissioned by GLP.The book value and appraisal value of the assets at 30 June 2015 was JPY38.1 billion (US$306 million)

³ This transaction falls under the category of “non-discloseable transactions” for the purpose of Chapter 10 of the SGX-ST Listing Manua