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Sign in Sign up for a FREE subscriptionGLP transfers $765m Japanese logistics portfolio
Singapore-based GLP has plans to sell eight properties worth ¥84.9 billion ($765 million) to its Tokyo stock exchange–listed Japanese REIT as part of its capital recycling strategy.
The properties to be sold include seven GLP wholly-owned properties and one property owned by GLP Japan Development Venture II, a 50–50 joint venture with Canada Pension Plan Investment Board.
The transaction involves a total gross floor area of 367,000 square meters (3.95 million square feet) and is expected to be completed in September 2018.
