GLP to acquire US$4.55 billion US logistics portfolio
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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.
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