Connect with us

CBRE Global Buys $1.6 Billion Stake in Japan Portfolio from GLP

Published

on

The press release states, “Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, today announced the sale of 16.7% of the total outstanding equity of GLP Japan Logistics Partners (“GLP-JLP”)[Legal entity known as “Light Year One Holdings Ltd.”] to clients of CBRE Global Multi Manager for JPY7.6 billion. CBRE Global Multi Manager is the private equity indirect investment division of CBRE Global Investors, which is one of the largest institutional real estate investment managers in the world.

GLP-JLP was a 50:50 joint venture between GLP and China Investment Corporation (“CIC”). At the time the joint venture was announced, GLP stated its equity exposure to Japan will remain stable or go down over time. Following the transaction announced today, GLP will retain a 33.3% interest in GLP-JLP and CIC will retain 50%. GLP will remain the asset manager of the portfolio with sole responsibility for day-to-day operations.

The portfolio of 15 modern logistics properties has a total Gross Floor Area of 770,989 sqm (8.3 million square feet), more than 90% of which is located within the prime Greater Tokyo and Osaka areas. As of 30 September 2012, the portfolio had a weighted average lease expiry of 5.2 years, and the overall occupancy of the properties was 98.9%. Under GLP’s management, the portfolio has already seen occupancy increase 90 basis points and a 0.9% increase in rent in the eight months since the acquisition.”

Read more: Global Logistic Properties Limited Press Release

Blackstone Defeated on Investa Office Fund Bid

Published

on

The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Temasek’s Bond Expected to Lure Retail Investors

Published

on

Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

QIA Becomes the Largest Shareholder in Colonial

Published

on

The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.