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Global Logistic Properties partners GIC in US$8.1b acquisition

GLP's initial 55% stake in fund set up for acquisition will be cut to 10% later as part of fund management strategy

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Global Logistic Properties (GLP) is partnering Singapore's sovereign wealth fund GIC in the US$8.1 billion purchase of a portfolio of warehouses and distribution centres in the United States, a move that GLP said would give it "immediate scale" in the world's largest logistics market.

Singapore

GLOBAL Logistic Properties (GLP) is partnering Singapore's sovereign wealth fund GIC in the US$8.1 billion purchase of a portfolio of warehouses and distribution centres in the United States, a move that GLP said would give it "immediate scale" in the world's largest logistics...

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