GLP confirms bid to buy industrial assets in Japan

Singapore-listed Global Logistic Properties (GLP), which owns warehouses in China and Japan, said on Monday it has submitted a bid to acquire a portfolio of over 20 industrial assets in Japan from LaSalle Investment Management, confirming media reports.

If its bid was successful, GLP expects to acquire the portfolio in a fund structure with one or more institutional investors.

GLP added that it was unaware of any details on whether its bid for the properties will be successful.

According to reports, GLP would have to pay up to 140 billion yen ($2.1 billion) for the assets.