GLP buys Gazeley for €2.4bn

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Global Logistic Properties, the Singapore-based property specialist, is moving into Europe with the €2.4 billion acquisition of Gazeley from Canadian group Brookfield.

Ming Z Mei, chief executive of GLP, said: “We have been looking to expand to Europe and this portfolio presents an attractive entry point given the quality and location of the assets. This transaction adds a premier operational and development platform for us in Europe and is part of our long-term strategy to expand our fund management business.”

Gazeley has some 32 million sq ft of logistics property in Europe of which 57 per cent in in the UK, 25 per cent is in Germany, 14 per cent is in France, and four per cent is in the Netherlands.

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