Global Logistic Properties buying Brazil assets for 3.18b real

GLOBAL Logistic Properties (GLP), a provider of modern logistics facilities in China, Japan and Brazil, yesterday announced it would be acquiring a portfolio of 34 assets in Brazil from Brazilian real estate developer BR Properties for 3.18 billion Brazilian real (S$1.74 billion).

The portfolio comprises 1.2 million square metres of completed logistics warehouses with a lease ratio of 99 per cent, sa…