CTP has agreed terms to acquire 100 percent of the South-East Asia Logistics Partners (SLP) portfolio and operating platform in Vietnam for approximately $500 million.
The proposed transaction will accelerate CTP’s global expansion into Asia. SLP, owned by global alternative investment manager Ares Management Corp., is an established and growing local operating platform, which, upon completion of the proposed acquisition, would give CTP immediate scale, a material development pipeline and a healthy regional network in Asia to continue its tenant-led growth.
The proposed acquisition comprises seven standing assets totaling 504,000 square meters (5.4 million square feet) of net leasable area (NLA), as well as six sites for development with the potential to deliver around 585,000 square meters (6.3 million square feet) of NLA. This would take the portfolio to a total NLA of approximately 1.1 million square meters (11.8 million square feet).
The standing assets we
