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.
Global Logistic Properties to Buy 200 U.S. Warehouses for $4.6 billion
GLP’s acquisition from Industrial Income Trust makes it the second-largest property owner and operator in the U.S., with 173 million square feet of space under its control.
Singapore-based logistics fund manager GLP announced today it has agreed to acquire a $1.1 billion US logistics real estate portfolio from Dallas-based Hillwood Development Company.