News Snippets

GLP acquires 200 US warehouses

GLP

It is the latest in a series of assertive steps by GLP, which just last week said it was setting up a $7bn fund to invest in Chinese infrastructure. Global Logistic, part owned by Singapore’s sovereign-wealth fund, also has been expanding in the US. Late last year, the company partnered up to buy IndCor Properties, another large warehouse portfolio, for $8.1bn.

By adding roughly 58 million square feet of space in the new deal, GLP will be the second-largest logistics property owner and operator in the US. The active warehouse market is fueled partly by low interest rates, but it is also boosted by retail trends that are pushing new distribution centres and with confidence that future economic growth will be built on trade and shipping.

Previous ArticleNext Article