News / Biggest ever US logistics property deal as GLP and GIC acquire IndCor Properties

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Singapore-based warehouse investor Global Logistic Properties (GLP) is set to pull off the largest logistics property deal in US history after agreeing to jointly acquire 117m sq ft of accumulated warehousing in the country with Singapore sovereign wealth fund GIC.

The two have agreed to buy IndCor Properties from the Blackstone group for US$8.1bn, with GLP financing 55% of the deal and GIC 45%. It will see GLP become the third largest warehouse operator in the US, second only to ProLogis ...