GLP to Sell JPY84.9 billion (US$765 million) of Assets to GLP J-REIT
Transaction in line with GLP’s capital recycling strategy; expected to be completed in September 2018. GLP is a leading global fund manager with over US$50 billion in assets under management.
- Transaction in line with GLP’s capital recycling strategy; expected to be completed in September 2018
- GLPis a leading global fund manager with over US$50 billion in assets under management
Tokyo, 13 August 2018 – GLP, the leading global provider of modern logistics facilities and technology-led solutions, continues its capital recycling strategy with the sale of eight Japan properties to GLP J-REIT for JPY84.9 billion (US$765 million1). The sale properties comprise seven GLP wholly owned properties and one property from GLP Japan Development Venture II with a total gross floor area of 367,000 square meters (4 million square feet).
Yoshiyuki Chosa, President of GLP Japan, said: “GLP J-REIT provides GLP with a long-term vehicle for capital recycling in Japan. Japan is one of GLP’s core markets for development and we are committed to expanding our fund management platform further.”
The sale is expected to be completed in September 2018.
GLP is a leading global fund manager with over US$50 billion in assets under management. GLP is the property and asset manager of GLP J-REIT, which was listed on the Tokyo Stock Exchange in December 2012.
About GLP (www.glprop.com)
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 62 million square meters (667 million square feet) globally.
For further information, please contact:
Ambika Goel, CFA
SVP- Capital Markets
Tel: +65 6643 6372
Email: agoel@glprop.com
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1 Unless otherwise stated, all exchange rates are reported as 1 USD = JPY 110.9, the exchange rate as of 10 August 2018
