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Real Assets

Global Logistic Properties Enters Europe With €2.4bn Gazeley Acquisition | News | Ipe Re

by posted 1year ago 261 views
Brookfield sells European logistics platform to GLP which has been eyeing Europe. : Global Logistics Properties (GLP) has acquired the European logistics business Gazeley for €2.4bn from Brookfield Asset Management. The deal will give GLP, which manages some US$39bn (€33.2bn) logistics assets in Asia-Pacific and the Americas, an immediate presence Europe. Gazeley owns some 3m sqm of logistics facilities in the UK, Germany, France and the Netherlands. They are almost fully leased (98%) with a weighted-lease expiry of nine years and a development pipeline of 1.4m sqm of buildable area.