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Following this high-quality acquisition, our completed portfolio in Brazil will increase to 2.6 million square meters (“sqm”) (28 million square feet (“sq ft”)).
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Singapore, 6 March 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has entered into a conditional agreement to acquire a portfolio of 34 assets in Brazil from BR Properties S. (“BR Properties”) for BRL 3.18 billion (US.36 billion ), or a 9.4% yield. Schwartz, Co-Founder and Chairman of the Executive Committee of GLP, said: “Our strong balance sheet and prudent financial discipline have allowed us to react quickly on this strategic opportunity, which will be immediately accretive to GLP.
Demand for modern logistics facilities is strong, underpinned by a young, growing consumer market and a continued drive to improve supply chain efficiency.
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