Chinese Consortium To Buy $10B Global Logistics Giant

Industrials under pressure due to increased e-commerce
Demand For Warehouse Space Will Push Rents Up Another 22% This Year, Prologis Reported.

A Chinese consortium has been picked as the preferred bidder to buy Singapore-listed logistics firm Global Logistics Properties for around $10B, according to Bloomberg.

The Chinese consortium is fronted by GLP CEO Ming Mei and includes private equity firms Hillhouse Capital Management and Hopu Investment Management.

Logistics has become a major target for Chinese firms in recent months, with Chinese e-commerce firms looking to expand globally and the government looking to increase investment in overseas infrastructure as part of its belt and road initiative.

Earlier this year, Chinese sovereign wealth fund China Investment Corp. paid Blackstone €12B for European logistics firm Logicor.

CIC had previously been reported as part of the Chinese consortium bidding for GLP.

GLP had a market capitalization of around $9.6B on close of trading Wednesday. The company has assets under management of $41B totaling 592M SF, and it manages funds and syndicates the equity for its purchases.

Its portfolio is located 57% in China, 26% in Japan, 9% in the U.S. and 8% in Brazil.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Why Hines Is Restarting Its Development Engine

Power Availability Becomes New Requirement For Shifting Bay Area Industrial Base

How Integrated Infrastructure Can Help AI Data Centers Deploy Faster, Build Smarter

Nvidia Buys Stake In Data Center Power Company

Invesco Cuts Fees, Adds Incentives To Quell Fund Redemption Requests

Investors Anchor Big Capital Into Marinas, Betting On Shallow Supply

Nike Closes 15 Stores Amid Tumultuous Year

Large Commercial Real Estate Sales Up 30% Despite Economic Headwinds

Evergrande Founder Sentenced To Life, 56 Others Sent To Prison In China

Loud And Clear: Why Aiphone Thinks Intercom Ownership Is Best For Multitenant Buildings

The Fast-Food Exec Taking Her Real Estate Talents To The Looksmaxxing Era

EXCLUSIVE: Industrial Outdoor Storage Investor Continues Buying Spree In Metro Atlanta