GLP buys Brookfield's European logistics platform for $2.8 bln: Reuters
Asia’s biggest warehouse operator, Global Logistic Properties, agreed to acquire European logistics platform Gazeley for about US$2.8 billion, marking its first push into Europe and underscoring consolidation in the buoyant sector, Reuters reported. GLP said the properties, owned by funds affiliated with Canada's Brookfield Asset Management, were spread across four countries and comprised 32 million square feet (3.0 million square metres) of total gross leasable area. Singapore-listed GLP, which has a US$42 billion portfolio of assets across China, Japan, Brazil and the United States, is benefiting from rising demand for logistics facilities driven by a boom in e-commerce. Toronto-based Brookfield acquired Gazeley in 2013 from an affiliate of Dubai World.
