| Global Logistics Properties Ltd., the leading provider of logistics facilities in Asia and Brazil, is making a big move into the United States industrial market by taking a 55 percent stake in a deal with GIC, Singapore’s sovereign wealth fund, to buy IndCor Properties from Blackstone for $8.1 billion.
Blackstone announced last week it was skipping a planned IPO for IndCor, which is the second largest owner of industrial properties in the U.S. with a platform of 117 million square feet, and selling it to GIC. Although GLP was rumored to be part of the deal, the company would not confirm last week that it was joining with GIC on the largest industrial deal of the year...............................................Full Article: Source
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