Global Logistic Properties sells Japanese portfolio to J-REIT

Global Logistic Properties has sold four logistics properties for 51.6 billion yen ($471.5 million) to its GLP J-REIT.

The sale is part of GLP’s capital recycling strategy.

The four properties are 100 percent leased, single-tenant facilities that comprise a total gross floor area of 2.2 million square feet.

“GLP continues to look for opportunities to grow the platform in new and existing markets, including a potential new China income fund, continuing to sell assets to the J-REIT and potentially expanding into Europe,” the company said in a statement.

GLP J-REIT is externally managed by GLP Japan Advisors, of which GLP is an indirect holding company.