Global Logistic Properties (GLP) is revving up growth through its fund management platform, with plans afoot to further expand in the US by acquiring asset portfolios in the billion dollar range, said group CEO Ming Z Mei.
GLP Leases 340,000 sq ft (32,000 sqm) in Northern New Jersey
GLP has leased 340,000 sq ft (32,000 sqm) in the US to a repeat customer. A leading global logistics firm has leased the entire facility located in Northern New Jersey.
GLP has appointed Teresa Zhuge and Victor Mok to serve as Co-Presidents of the Company’s China business following a decision by Kent Yang, President of GLP China, to move into a Senior Advisor role.
GLP has signed new leases totaling 20,000 sqm (215,000 sq ft) in São Paulo with two leading companies in Brazil. These are new customer relationships for GLP.
GLP FY16 Earnings Up 48%; Continued Operation and Fund Management Momentum
GLP reported a 48% increase in earnings (PATMI) for the year ended 31 March 2016 (“FY16”), driven by higher earnings in China, development completion gains in Japan and GLP’s entry into the US market.
