Corporate digest

Global Logistic Properties

GLOBAL Logistic Properties (GLP) has further syndicated its stake in a portfolio of industrial assets in the United States. Its indirect wholly owned subsidiary New Western Holdings had on Wednesday entered into agreements with a new co-investor, under which GLP will further syndicate an interest of about 9.09 per cent in the portfolio for a cash consideration of US$180 million.

Previously, GLP reported an initial syndication of an interest of some 65.66 per cent in the target portfolio and a further syndication of an interest of approximately 9.95 per cent, which is not yet completed.