| Global Logistic Properties Ltd. (GLP), a unit of the Government of Singapore Investment Corp., and China Investment Corp. agreed to buy 15 Japanese warehouses for 122.6 billion yen ($1.6 billion) as demand for modern storage is rebounding after the March earthquake.
LaSalle Investment Management is selling the properties, with 770,989 square meters (8.3 million square feet) of space mainly in Tokyo and Osaka, to a 50-50 joint venture by Global Logistic and CIC, according to a statement to the Singapore exchange yesterday. The acquisition will be funded with 81 billion yen of debt from a group of Japanese banks, they said...............................................Full Article: Source
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