Global Logistic Properties Ltd. GBTZY -0.73 % said it has agreed to buy distribution centers from Hillwood Development Co. for $1.1 billion. Investors bought nearly $78 billion worth of warehouses and distribution centers in 2015, according to data firm Real Capital Analytics. Through July of this year, however, only $29.2 billion worth of industrial property had changed hands, Real Capital said. In April of last year, Prologis announced its $5.9 billion purchase of KTR Capital Partners, another large warehouse owner. For most of its U.S. deals, GLP retains around a 10% stake in the properties after it buys them.

Source: Wall Street Journal September 12, 2016 22:03 UTC