Global Logistic Puts Up $1.3B For Brazilian Warehouses

Law360, New York (March 5, 2014, 6:20 PM EST) -- Brazilian real estate developer BR Properties SA said Wednesday that it will sell a portfolio of industrial warehouses and logistics facilities to Singapore-based industrial warehousing giant Global Logistic Properties Ltd. for 3.18 billion reais ($1.37 billion).

GLP, which bills itself as the leading provider of modern logistics facilities in China, Japan and Brazil, will snatch up 34 industrial properties from Sao Paulo-based BR Properties. In the process, GLP bolsters an already plump global portfolio worth approximately $16.9 billion that consists of a total 230 million square...
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