GLP Continues Capital Recycling Strategy With Further Asset Sales To GLP J-REIT

16 August 2016

GLP's Integrated Business Model
  • GLP is a fund manager, developer and owner-operator of modern logistics facilities
  • GLP continues to move towards asset-light model by expanding fund management platform
  • Development: Majority of GLP's capital allocated for development in China and Japan

    Develop Lease Up Monetize

    • GLP develops modern logistics facilities to meet customer demand

      - Development profit margin: ~25% (recognized on completion)

    • Experienced in-house teams for leasing and property management

    • A typical development takes ~21 months from site acquisition to lease-up

      • Realize development profit

      • Grow fund management AUM

        - Generate recurring income from management fees

      • Recycle capital for further development

    Japan Asset Sales YTD FY17

    Sale Price

    US$572m

    Cash Profit Generated

    US$130m

    Achieved Net IRR

    45%

    Development Profit Margin

    44%

    Capital Recycling Strategy

  • Revaluation gains are not just accounting profits

    • GLP has generated US$1.8bn cash profit from US$6.9bn of asset sales since FY12

  • The fund management provides a platform for GLP to

    • Realize cash profit from development sales and asset appreciation

    • Grow fund management AUM to generate higher recurring income from management fees

Capital Recycling Initiatives (FY12 - YTD FY17) Asset Sales (US$ billion)

  • GLP and GLP Japan Income Partners I sell assets to GLP J-REIT

4.7

1.1

3.6

  • GLP sells 1/3 stake in China business to investor consortium in FY14

    2.1

    0.7

    1.5

    6.9

    1.8

    5.1

    US$6.9bn of assets monetized

    Cash Profits Realized

    • US$100m development profit

    • US$1.7bn reval gains related to asset appreciation

Japan China Total

Investment Cost Cash Profit

Global Logistic Properties Limited published this content on 15 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 August 2016 06:55:05 UTC.

Original documenthttp://phx.corporate-ir.net/external.file?t=2&item=o8hHt16027g9XhJTr8+weNRYaV9bFc2rMd0Q/AXw4zsj6/JJezDqKYZx5qSLcNoV/AadcrAmqF7x+E5SqNwjp2RjEPSMrfWPyI7WpzJDHIH8FvKIOUy8va3NmwwkwOZ3nE9oDocedWqVgBKmlKoR0w==&cb=636069263705500562

Public permalinkhttp://www.publicnow.com/view/BA6DD8B6A0FA55A78F6BE2267260F6D8A141EB42