SINGAPORE (Sept 14): DBS Group Research and CIMB are keeping their “buy” and “add” recommendations on Global Logistic Properties (GLP) at target prices of $2.47 and $2.73 respectively.

The modern logistics facilities provider – which owns US$38 billion ($52 billion) of industrial buildings globally – on Tuesday announced its intention to acquire its third US-based portfolio from real estate agency and property developer, Hillwood Development Company LLC, for a sum of US$1.1 billion.

Its assets are located in key markets of Dallas, Chicago and Atlanta, which according to Colliers, have one of the brightest outlook for absorption and rental growth in the US.  

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