GLP takes in US$32m for US$1.1b US portfolio

Singapore

GLOBAL Logistics Properties (GLP) said before market opened on Thursday a co-investor has pumped US$32 million into a fund established to hold a newly acquired US$1.1 billion logistics portfolio from Dallas-based developer Hillwood.

The contribution from the co-investor made on Dec 21, deemed as initial syndication, corresponds to 9.7 per cent of the aggregate capital contributions made to the fund.