Examples of GLP Group in a sentence
Upon termination of this Agreement, GML shall forthwith surrender to GLP any and all books, records, documents and other property in the possession or control of GML relating to this Agreement and to the business, finance, technology, trademarks or affairs of GLP and any member of the GLP Group and, except as required by law, shall not retain any copies of same.
The parties to this Agreement do not intend, and nothing herein shall be interpreted so as, to create a partnership or joint venture relationship, or, except with respect to the provision of the Management Services by the Managers, employee or agency relationship between GML and any one or more of GLP, GGP or any other member of the GLP Group.
Having the GLP Group (Note) as the sponsor group and investing in highly functional modern logistics facilities while taking advantage of the wealth of experience and management resources, GLP J-REIT aims to earn stable income and achieve steady growth in assets under management over the medium and long term.
Having GLP Group (Note) as sponsor and investing in highly functional modern logistics facilities while taking advantage of the wealth of experience and management resources, GLP J-REIT aims to earn stable income and achieve steady growth in assets under management over the medium and long term.
GLP Group to which the sponsor of GLP J-REIT belongs has established the "Environmental, Social and Governance (ESG) principles" and has an overarching commitment to integrate sustainability into the heart of its business practice.
Using the funds from the issuance and new borrowings, GLP J-REIT acquired the following seven properties (total acquisition price: 98,234 million yen) on December 11, 2020: six properties developed by the GLP Group (GLP Yokohama (60% Joint co-ownership ratio), GLP Sayama Hidaka II, GLP Urayasu II, GLP Kashiwa II, GLP Yachiyo II and GLP Rokko III) out of 11 properties subject to the Right-of-First-Look agreement and one property developed by a third party (GLP Higashi-Ogishima III).
As for external growth strategy, the Asset Manager of GLP J-REIT has entered into a right-of-first-look agreement with Global Logistics Properties Limited, which is the sponsor parent, and its group companies (hereinafter “GLP Group”), allowing GLP J-REIT to preferentially obtain information regarding the sale of logistics facilities with regard to the 33 properties wholly owned by the GLP Group (as of the date of this document).
Based on such basic understanding, the Asset Manager of GLP J-REIT entered into a Rights-of-First-Look agreement with GLP in order to acquire logistics properties held by GLP Group on a stable and continuous basis.
The Bridge Company has no capital relationships nor personnel relationships with GLP J-REIT, GLPJA, and GLP Group (Note 2).
As a result of the above initiatives and the proper management and operation of its portfolio with strong support from the GLP Group, which provides modern logistics facilities on a global basis, GLP J-REIT operates 83 properties (total acquisition price of 741,132 million yen) while maintaining the portfolio occupancy rate at a favorable level of 99.7% as of February 28, 2021.