GLP bags $1.76b in cash after syndication of US industrial assets

It syndicated its 65.66% stake in the portfolio.

Global Logistics Properties (GLP) has completed its planned syndication of its 65.66% stake in the portfolio of industrial assets in US acquired in 2015.

According to GLP’s announcement, the company sold the assets for US$1.3b, or roughly $1.76b, in cash.

“Following the completion of the Syndication, the portfolio companies holding such assets (as set out in Appendix A) ceased to be subsidiaries of the Company and became associated companies,” GLP states.

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