trending Market Intelligence /marketintelligence/en/news-insights/trending/9YaK0h7E38B1-Ew6961_Ng2 content esgSubNav
In This List

GLP updates on US$1.5B logistics property fund

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


GLP updates on US$1.5B logistics property fund

Global Logistic Properties Ltd. disclosed updates made March 31 in relation to its US$1.5 billion GLP US Income Partners III investment vehicle.

The first update concerns the fund's estimated US$16.7 million acquisition of Harvest B Logistics Center B1 LLC, a project company that owns an additional completed property within the portfolio it purchased in 2016 for US$1.1 billion. An associated company, Logistics Center I LLC, meanwhile, was acquired and dissolved as part of the deal.

The fund also completed its roughly US$34 million acquisition of Harvest B Bedford Park LLC and Harvest B Melrose Park LLC from GLP. The two portfolio companies hold distribution facilities that are part of the acquired logistics portfolio, and the acquisition was funded by a combination of debt and equity of the fund.

Following the transactions, GLP's interest in the portfolio companies, held through the fund, was reduced to about 49.9% from 100%.