Categorized | International

A $1.7 Billion Real Estate Bid In Japan

A $1.7 Billion Real Estate Bid In Japan
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Global Logistics Properties Ltd. (GLP) is a coallaition of three major companies of the world Mitsubishi Corporation (8058), Kenedix Incoerporation (4321) and Blackstone Group LP (BX). The alliance company is said to submit in bids of real estate in Japan amounting to 140 billion Yen which is approximately $1.7 billion.

The assets are said to be locally owned by LaSalle Investment Management Incorporation and comprises of 24 warehouses located in the twin cities og Tokyo and Osaka. GLP is said to be partially owned by the Government of Singapore Investment Corporation and is a major dealer in warehouses segmenty of the real estate industry that are located near the seaport.

The transaction is said to be the biggest one after the sale of Tokyo’s Famous real estate Toranomom Pastoral Hotel which was acquired by Mori Trust Company at a cost of 231 billion Yen in the year 2007 and the purchase of Pacific Century Place building by Shinsei Bank Ltd in the year 2009 for an amount of $1.6 billion.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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