GLP J-Reit buying 4 Japan properties for 42.7b yen
Global Logistic Properties, which has sold its stake in another asset in June, expects to realise US$130m of cash profit from the dispositions
Singapore
MAINBOARD-listed Global Logistic Properties (GLP), a fund manager and global provider of modern logistics facilities, is selling four properties in Japan to GLP J-Reit for 42.7 billion yen (S$571 million) as part of its capital-recycling strategy.
The sale price is 3 per cent higher than latest appraisal values and equates to a weighted average cap rate of 4.8 per cent, the company on Tuesday said in a filing to the Singapore Exchange (SGX).
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