GLP to acquire US$4.55 billion US logistics portfolio

Singapore

GLOBAL provider of modern logistics facilities GLP announced on Wednesday that it is acquiring a US$4.55 billion logistics portfolio in the United States, which will propel the company to become the second largest logistics property player there within a year of market entry.

The portfolio - comprising 58 million square feet of logistics assets spread across 20 markets, including Los Angeles and Pennsylvania - will enlarge GLP's presence in the US by 50 per cent to 173 million sq ft.