Global Logistic Properties (GLP), the leading global provider of modern logistics facilities, has entered into a definitive agreement to acquire Gazeley, a premier developer, owner and operator of modern logistics facilities in Europe for approximately US$2.8 billion (€2.4 billion). This transaction provides GLP with one of the highest quality portfolios in Europe as well as an experienced local management team with a strong development track record.

“We have been looking to expand to Europe and this portfolio presents anattractive entry point given the quality and location of the assets. This transaction adds a premier operational and development platform for us in Europe and is part of our long-term strategy to expand our fund management business,” said Ming Z. Mei, Co-Founder and CEO of Global Logistic Properties.

GLP intends to inject the Gazeley portfolio into its fund management platform, in line with previous practice. Investor demand to partner with GLP in the European logistics market is strong and the Company is already in negotiations with interested capital partners.