GLP sells four properties in Japan for 51.6b yen
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Singapore
GLOBAL Logistics Properties (GLP) has signed an agreement to sell four wholly owned properties in Japan for 51.6 billion yen (S$642.4 million), a continuation of its capital recycling strategy, it said on Tuesday.
The four properties are 100 per cent leased, single-tenant facilities comprising a total gross floor area of 206,000 square metres (2.2 million square feet). The sale price is 5 per cent higher than the latest appraisal values and equates to a weighted average cap rate of 4.5 per cent.
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