Global Logistic Properties Ltd, Canada Pension Plan Investment Board, China Investment Corporation And Government of Singapore Investment Corporation Form JV To Acquire Properties In Brazil

Global Logistic Properties Ltd announces the signing of an agreement to expand its global network to Brazil. GLP will form two joint ventures with Canada Pension Plan Investment Board (“CPPIB”), China Investment Corporation (“CIC”) and Government of Singapore Investment Corporation (“GIC”) to acquire two portfolios of logistics facilities from Prosperitas 4 for a total initial consideration of BRL2.9 billion (USD1.45 billion). GLP’s initial equity requirement is BRL668 million (USD334 million). In the first joint venture (“Stabilized JV”), GLP will partner with CPPIB, CIC and GIC to acquire a portfolio of 34 stabilized assets and one development project. GLP and CIC will each own 34.2% of the Stabilized JV, with GIC holding 20.0% and CPPIB 11.6%. In the second joint venture (“Development JV”), GLP will partner with CPPIB and GIC to acquire a portfolio of five development projects. GLP will own 41.3% of the Development JV, with CPPIB owning 39.6% and GIC 19.1%. 88% of the two joint ventures’ combined assets are located in the primary logistics markets of São Paulo and Rio de Janeiro, which together generate greater than 40% of Brazil’s GDP. GLP will act as the asset manager of the acquired properties.