<article>Singapore-listed <a href="http://www.dealstreetasia.com/tag/Global-Logistic-Properties" target="_blank">Global Logistic Properties</a> (GLP) said it will invest $1.1 billion in a 655,000 square meters land parcel in Sagamihara, Greater Tokyo, which will be developed into Japan&#8217;s largest logistics park.</article>

Singapore-listed <a href="http://www.dealstreetasia.com/tag/Global-Logistic-Properties" target="_blank">Global Logistic Properties</a> (GLP) said it will invest $1.1 billion in a 655,000 square meters land parcel in Sagamihara, Greater Tokyo, which will be developed into Japan&#8217;s largest logistics park.
<a href="https://www.glprop.com/press-releases/458-glp-secures-strategic-land-for-long-term-logistics-development-in-japan.html" target="_blank">In a statement</a>,mainboard-listed firm said it expects to start the first phase of construction in 2020 following a sale-and-leaseback arrangement with the seller. The investment will be financed through its fund management platform.
The company, which manages a property portfolio of assets valued at $40 billion globally, said Sagamihara emerged as a major logistics hub due to the lack of quality logistics space and available land parcels in metropolitan Tokyo.Two of its recent developments in that area &#8211; GLP Atsugi II and GLP Ayase &#8211; were fully lease a year before completion.
Yoshiyuki Chosa, President of GLP Japan, said, &#8220;The size of the uniquely positioned site allows layout flexibility to cater to different customer segments including cold storage, manufacturing and R&amp;D. We are confident that with its strategic location, customer demand pipeline and industry-leading building specifications, GLP Sagamihara is well-positioned to be Japan’s best master-planned logistics park.”
The acquisition comes after Singapore&#8217;s sovereign wealth fund <a href="http://www.dealstreetasia.com/tag/GIC" target="_blank">GIC</a>, GIP&#8217;s largest shareholder, <a href="http://www.dealstreetasia.com/stories/global-logistic-properties-says-undertaking-strategic-business-review-59706/" target="_blank">requested the group to undertake</a> a strategic review of options available to enhance shareholder value in December.
The review saw a special committee being set up consisting of four independent directors and JP Morgan (SEA) Limited as its financial advisor.
“As part of the strategic review, the company, through JPMorgan, is in the process of making preliminary approaches to various parties to evaluate the viability of options available for its business,” GLP said.
<a href="http://www.dealstreetasia.com/stories/sg-realty-8-59710/" target="_blank">Back in December, </a>the group sold GLP Narita for $72 million to a private equity fun with a consideration that represents a 4.9 per cent  cap rate and a 12 per cent premium to book value. The deal was in line with the company&#8217;s capital recycling strategy. In the same month, it <a href="http://infopub.sgx.com/FileOpen/20161214_GLP_Establishes_US$1.5bn_USIP_III_presentation_slides.ashx?App=Announcement&amp;FileID=433025" target="_blank">announced</a> the establishment of a $620 million fund that is expected to invest $1.5 billion over three years. <a style="color: #000080" href="http://www.dealstreetasia.com/stories/singapores-glp-to-buy-u-s-warehouses-for-1-1-billion-53135/" target="_blank">Then in September</a> it invested $1.1 billion in warehouses from HillWood Development Co.
The group currently owns and operates a global portfolio of 52 million square meters offering services to over 4000 customers including manufacturers, retailers and third party logistics companies.
Also Read:
<a href="http://www.dealstreetasia.com/stories/global-logistic-properties-says-undertaking-strategic-business-review-59706/">Singapore’s GLP undertaking strategic business review on request from GIC</a>
<a href="http://www.dealstreetasia.com/stories/cic-group-said-to-mull-bid-for-6b-property-owner-glp-57066/">Singapore property owner GLP gets takeover offer from China fund CIC Group</a>
<a href="http://www.dealstreetasia.com/stories/singapores-glp-to-buy-u-s-warehouses-for-1-1-billion-53135/">Singapore’s GLP strikes third major US deal, to buy warehouses for $1.1b from Hillwood</a>
<a href="http://www.dealstreetasia.com/stories/50841-50841/">Singapore: GLP to sell four Japanese logistics properties in $420m deal</a>

GLP said it will invest $1.1 billion in a 655,000 square meters land parcel in Sagamihara, Greater Tokyo, which will be developed into Japan's largest logistics park.

GLP invests $1.1b to build Japan's biggest logistics park

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GLP invests $1.1b to build Japan's biggest logistics park

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