Denver Business Journal, 11 Mar 2009, Paula Moore
Global Logistic Properties (GLP), the new name for ProLogis Inc.’s former Asian operation, plans to invest more than $1 billion in its Chinese holdings over the next two years, according to the China Daily newspaper.
Former ProLogis Chairman and CEO Jeff Schwartz has become chairman of GLP.
ProLogis (NYSE: PLD) of Denver, one of the world’s largest owners of distribution centers, sold all of its China properties and its interest in Japanese property funds for $1.3 billion in February to affiliates of GIC Real Estate. GIC RE is the real estate investment arm of the Government of Singapore Investment Corp.
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