GLP continues to grow its fund management platform with the establishment of the joint venture with China Investment Corporation.
GLP and CIC will each hold a 50 per cent stake in the portfolio of 15 facilities acquired from LaSalle Investment Management.
GLP’s equity investment of JPY 21.22 billion (US$272.9 million ) will be immediately accretive. GLP’s equity investment will be funded by cash on hand.
The transaction would have lifted FY2011 PATMI by approximately US$38 mill...