GLP (company)

GLP
Company typePrivate
IndustryLogistics, Digital Infrastructure, Renewable Energy
Founded2009; 15 years ago (2009) (as Global Logistic Properties)
FoundersMing Z. Mei, Jeffrey H. Schwartz
Area served
Brazil, China, Europe, India, Japan, Vietnam and the U.S.
Key people
Ming Z. Mei (Co-Founder and CEO)
Websiteglp.com

GLP (formerly Global Logistic Properties) is a global owner, developer and operator of logistics real estate, digital infrastructure and renewable energy. GLP also invests in and incubates new businesses that improve efficiency and drive growth across it's platforms.[1] The company's warehouses serve logistics service providers, manufacturers, retailers and e-commerce companies such as Amazon and JD.com.[2][3]

In 2010, GLP became a public company listed on the Singapore Exchange.[4] It raised $2.7 billion in its initial public offering, making it Singapore's largest IPO since 1993.[5] The company entered the US market in 2015 with the $8.1 billion acquisition of IndCor Properties Inc.’s warehouse portfolio and the purchase of 200 warehouses for $4.55 billion, making it the second-largest owner of industrial real estate in the U.S.[6][7]

GLP went private and delisted from the Singapore Exchange in 2018.[8] Its June 2019 sale of a network of U.S. warehouses to The Blackstone Group for $18.7 billion was the largest private real estate transaction in history, according to The Wall Street Journal.[6]

As of March 2024, GLP manages more than 84 million square meters of real estate across China, Brazil, India, Japan, the U.S., Europe and Vietnam.[9][6]

  1. ^ "About Us". GLP Website. 13 May 2024. Retrieved 13 May 2024.
  2. ^ "Global Logistic Properties Ltd". Nikkei Asian Review. Archived from the original on 2 October 2020. Retrieved 15 September 2020.
  3. ^ Anshuman, Daga; Barreto, Elzio (14 July 2017). "Chinese buyout group wins $11.6 billion bid to buy Global Logistic Properties". Reuters. Retrieved 15 September 2020.
  4. ^ "Singapore's GLP confirms IPO price of S$1.96 a share". Reuters. 10 October 2010. Retrieved 16 September 2020.
  5. ^ Koh, Joyce (18 October 2010). "Global Logistic Jumps in Debut of S$3.45 Billion IPO". Bloomberg. Retrieved 16 September 2020.
  6. ^ a b c Hoffman, Liz; Gottfried, Miriam; Lombardo, Cara (2 June 2019). "Blackstone Strikes $18.7B Deal for GLP's US Warehouse Network". Wall Street Journal. Retrieved 15 September 2020.
  7. ^ Whelan, Robbie (28 July 2016). "Global Logistic Properties to Buy 200 U.S. Warehouses For $4.6 Billion". Wall Street Journal. Retrieved 18 September 2020.
  8. ^ Yeung, Karen (11 May 2018). "Singapore's GLP will do something it has never done before with this US$1.6 billion private equity fund". South China Morning Post. Retrieved 15 September 2020.
  9. ^ Ng, Eric; Moon, Louise (20 March 2020). "Hong Kong's Fung family, GLP Group offer to privatise global supply chain manager Li & Fung at 150 per cent premium". South China Morning Post. Retrieved 15 September 2020.