SINGAPORE (Oct 2): GLP, has entered into a definitive agreement to acquire Gazeley, the developer, owner and operator of modern logistics facilities in Europe for US$2.8 billion ($3.8 billion).

The 32 million sf acquisition portfolio is concentrated in Europe’s key logistics markets, namely the UK (57%), Germany (25%), France (14%) and the Netherlands (4%).

The transaction will provide it with one of the highest quality portfolios in Europe as well as an experienced local management team with a strong development track record.

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