MoFo on GLP's Latest U.S. Logistics Deal
The Singapore-based warehousing giant is offering $4.6 billion for a portfolio of properties held by Industrial Income Trust.
July 30, 2015 at 11:53 PM
2 minute read
Morrison & Foerster is advising on the latest U.S. deal for Singapore-based warehousing giant Global Logistics Properties Ltd.
GLP has offered $4.6 billion for a portfolio of 200 logistics properties held by real estate investment trust Industrial Income Trust Ltd. The properties comprise 58 million square feet of space in 20 markets, including Los Angeles, Washington, D.C. and Pennsylvania. The deal is expected to close in November.
Upon completion of the transaction, GLP's U.S. footprint will grow by 50 percent to 173 million square feet and the company will become the second-largest logistics property owner in the U.S. Last year, MoFo also advised the company on a $8.1 billion deal with Singaporean sovereign wealth fund GIC Ptd. Ltd. for Blackstone Group-held IndCor Properties.
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