Singapore-based GLP has entered into an agreement to acquire Goodman Group’s Central and Eastern Europe logistics real estate portfolio, subject to regulatory approvals, for $1.08 billion.
GLP entered the European market in December 2017 through the acquisition of Gazeley, a developer, investor and manager of European logistics warehouses and distribution parks with a 2.4 million square meters (25.8 million square feet) portfolio across Europe. The acquisition of a high-quality portfolio spread across Poland, the Czech Republic, Slovakia and Hungary will expand GLP’s European presence to 10 countries, and it will join a select number of logistics real estate investors with a truly pan-European portfolio.
The acquired portfolio of 2.4 million square meters (25.8 million square feet) is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It will bring a number of new customers into the business and al
