SG: GLP acquires facilities in Chicago for $33m; Fragrance Group sets up subsidiary for Liverpool acquisition

The latest in the realty deals space among listed companies in Singapore has seen GLP acquire  448,000 square feet of distribution facilities in Chicago for $33 million, while Fragrance Group Limited has incorporated a subsidiary in the United Kingdom for the acquisition of a Liverpool property.

GLP acquires 448,000 sq ft property in Chicago for $33m

GLP announced on Wednesday that it acquired 448,000 square feet of distribution facilities in Chicago for $33 million.

In a filing to the Singapore Exchange, the logistics facilities provider said the buildings were acquired from institutional owners in two separate transactions and comprise multi-tenant assets 100 per cent leased to new and existing GLP customers.

The first property is a fully leased 308,000 sq ft distribution building in Bedford Park, a desirable in-fill sub-market located near Chicago’s Midway Airport, which is home to major FedEx, UPS and USPS facilities, along with the CSX intermodal.

The second is a fully leased 139,000 sq ft distribution building that is strategically located in Western Cook County with access to Chicago’s urban population density and proximity to major highways.

Amy Curry, GLP’s Eastern Regional Director, said, “GLP remains on the lookout for opportunistic assets that will strengthen our network of state-of-the-art logistics facilities to better serve customers across the US.”

Fragrance Group sets up UK subsidiary to acquire Liverpool property

Fragrance Group Limited has set up a wholly owned subsidiary, Fragrance UK-Liverpool Limited, to engage in the acquisition of a Liverpool property.

The subsidiary, a property investment company with an initial paid-up capital of £1 million, has emerged as the top contender from the tender exercise to acquire the property located at Dale Street, Liverpool, L2 2DH, United Kingdom.

The 4,570 sq m property, is a historical building that spans three floors. It also has 11,494 square metres of floor area.

Following the successful award of the tender, the acquisition of the Property is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the current financial year ending 31 December 2017.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.