Malaysia Star, 2 Sep 2011
SINGAPORE: Singapore's Global Logistic Properties (GLP) said yesterday it has formed a joint venture with Canada Pension Plan Investment Board to develop logistics facilities in Japan, as it looks to tap increasing demand in the country for large-scale warehouse rental.
Warehouse operators and investors see growing appetite from companies for the flexibility of renting logistics facilities rather than actually owning them, and the March 11 natural disasters highlighted the benefits of big and modern buildings.
The two would each invest US$250mil of equity over a projected three years, GLP said, adding that it was targeting leverage of 50% loan-to-value. Full story
