Warehouse operator Global Logistic Properties (GLP) said on Thursday it would exercise an option to sell three Japanese properties to Tokyo-listed GLP J-REIT for US$142 million (S$174 million), Dow Jones Newswires reported.
The deal is part of a November transaction in which the Singapore-based company sold 30 Japanese warehouses to the real estate investment trust for 209 billion yen (S$2.8 billion), in a precursor to the trust’s December listing in Japan.
The three assets are located in Tokyo, Osaka and Sendai, GLP said, adding that it expected to complete the sale on Feb 1.
GLP, which is 50.6 per cent owned by the Government of Singapore Investment Corp, sponsored GLP J-REIT’s listing and currently owns 15 per cent of the trust.
Source : Today – 17 Jan 2013