GLP Completes Industrial Income Merger
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IIT acquired this logistics facility at 1580 Francisco St. in Los Angeles in 2012, one of 100 separate transactions making up its portfolio.
CHICAGO—Global Logistics Properties has wrapped up its second major US deal in the space of a year, in the process enlarging its US footprint by 50%. The company said Wednesday that it had completed its acquisition of a 100-property $4.55-billion portfolio from Industrial Income Trust, merging the REIT with and into Western Logistics II LLC, an affiliate of GLP.
The Denver-based REIT’s shareholders last month voted to approve the merger, which was first announced in late July. It followed GLP’s acquisition, in partnership with GIC Pte. Ltd., of the Blackstone Group’s IndCor industrial platform…
