GLP

GLP: Signed a partnership framework agreement with Unicharm a Japan-based leading manufacturer. The agreement outlines a partnership in developing logistic facilities for manufacturing bases of Unicharm in China and will initiate with a Build-to-Suit project to develop Unicharm's largest manufacturing and distribution facility in Tianjin Xiqing Economic Dev Area (XEDA),North China…

This is the 3rd project that GLP has dev in Tianjin XEDA which will have total GFA of 53k sqm. This follows the strategic partnership with Vancl last wk and may signal GLP’s strategy to find suitable partners and lessees before developing logistic facilities. Co now trades at fwd P/B of 1.1x