CIC, GLP to Buy Japanese Warehouse Properties

(Beijing) -- Sovereign wealth fund China Investment Corp. (CIC) will join with Global Logistic Properties (GLP) to acquire 15 storage facilities in Japan, with a total value of US$ 1.6 billion.

In a statement on December 19, Global Logistic said it will set up a 50-50 joint venture with CIC to purchase warehouses which have a total area of 771,000 square meters and are mostly located in Tokyo and Osaka.