Co-invests with GIC to acquire US$8.1bn US logistics portfolio
To pare down initial 55% stake to 10% by Aug15; expand fund management platform
Maintain BUY, TP of S$3.42
Acquires stake in US logistics portfolio.
Global Logistics Properties (GLP) announced that it will co-invest with GIC (Singapore Government Investment Corporation) to acquire a US$8.1bn US logistics portfolio from Blackstone. The portfolio consists of 117m sqft of space across 36 major US submarkets. Post-acquisition, together with GIC, the group will be…
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