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GLP completes stake syndication in GLP US Income Partners II

has completed its stake syndication in properties in the U.S. for an aggregatecash consideration of US$1.3 billion, subject to post-closing adjustments.

The Singapore-listedcompany said April 5 that the syndication was completed on April 4.Consequently, the project companies owning assets in the portfolio ceased to beGLP subsidiaries and have become associated companies.

Theproperties in the concerned portfolio were held by GLP US Income Partners II,which it established in November 2015 as part of its affiliate's with U.S.-basedIndustrial Income Trust Inc.

GLPsaid in November 2015 that it planned to syndicate a roughly 65.66% stake toChina Life and the other investors in the partnership.