Singapore, 6 March 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has entered into a conditional agreement to acquire a portfolio of 34 assets in Brazil from BR Properties S.(“BR Properties”) for BRL 3.18 billion (US You shall not copy or download any User-Submitted Content by any means or for any purpose.(“BR Properties”) for BRL 3.18 billion (US$1.36 billion ), or a 9.4% yield.Schwartz, Co-Founder and Chairman of the Executive Committee of GLP, said: “Our strong balance sheet and prudent financial discipline have allowed us to react quickly on this strategic opportunity, which will be immediately accretive to GLP.
BR Properties’ portfolio of high-quality, strategically-located logistics assets complements our existing portfolio well and will further strengthen our market leadership position in Brazil, where we feel very good about the long-term prospects.”Mauro Dias, President of GLP Brazil, said: “Brazil remains one of the world’s best markets for logistics.
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