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January 12, 2017 Comments Off on Blackstone Possibly Jumping into GLP Takeover Mix Views: 518 National News, Northeast, Top National Stories

Blackstone Possibly Jumping into GLP Takeover Mix

Blackstone Group LP is the latest to consider making an offer to take over Singapore’s Global Logistics Properties Ltd., an $8.6 billion warehouse owner and operator. GLP owns property in China, the United States and Brazil, and is seeking buyout offers.

If Blackstone jumps into the mix, it would be competing against Warburg Pincus and a Chinese investor group that includes buyout firm Hopu Investment Management. GLP has asked for first-round offers by early February.

In 2014, GLP and GIC acquired IndCor Properties Inc. from Blackstone for $8.1 billion. The acquisition brought 117 million square feet of industrial real estate into GLP’s portfolio, while improving its presence in the U.S.

Read More at Bloomberg

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