Asian group buys 200 US warehouses
Global Logistic Properties (GLP), a leading provider of logistics facilities in China, Japan and Brazil, has acquired a $4.55 billion US logistics portfolio from Industrial Income Trust.
GLP is part-owned by Singapore’s sovereign wealth fund.
The move makes GLP the second largest logistics property owner and operator in the US within a year of market entry.
The transaction enlarges GLP’s US footprint by 50% to 173 million square feet (16.1 million square metres).
Globally, warehouse property is in demand.
GLP also announced a $7 billion infrastructure investment fund for warehouse space in China.
In April, Prologis bought warehouse owner KTR Capital Partners for $5.9 billion.
