Photo of Ming Z. Mei GLP CEO Ming Z. Mei

SINGAPORE—Global Logistics Properties said Friday it had agreed to a takeover by a consortium that would pay $3.38 (US$2.46) per share. The privatization values the industrial landlord, which controls about 200 million square feet of space in the US, at approximately S$16 billion (US$11.6 billion). Including its US holdings, the GLP platform represents more than 575 million square feet of logistics space, along with US$39 billion in assets under management through its global real estate fund.