GLP meaning in Business ?

Answer:

What is Global Logistic Properties mean?

GLP (formerly Global Logistic Properties) is a global real estate logistics provider and investment manager based in Singapore. The company’s warehouses serve logistics service providers, manufacturers, retailers and e-commerce companies such as Amazon and JD.com.

In 2010, GLP became a public company listed on the Singapore Exchange. It raised $2.7 billion in its initial public offering, making it Singapore’s largest IPO since 1993. 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.

GLP went private and delisted from the Singapore Exchange in 2018. 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.

As of March 2020, GLP had $89 billion in assets and managed 62 million square meters of real estate across China, Brazil, India, Japan, the U.S., Europe and Vietnam.

reference

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