SAO PAULO, BRAZIL—Global Logistic Properties Ltd., a leading provider of modern logistics facilities in China, Japan and Brazil, has made a deal to acquire a portfolio of 34 assets in Brazil from BR Properties S.A. for $1.36 billion (BRL 3.18B), or a 9.4% yield.

“Our strong balance sheet and prudent financial discipline have allowed us to react quickly on this strategic opportunity, which will be immediately accretive to GLP,” said Jeffrey Schwartz, GLP's co-founder and chairman of the firm's executive committee. “BR Properties' portfolio of high-quality, strategically-located logistics assets complements our existing portfolio well and will further strengthen our market leadership position in Brazil, where we feel very good about the long-term prospects.”

Mauro Dias, president of GLP Brazil, said: “Brazil remains one of the world's best markets for logistics. Demand for modern logistics facilities is strong, underpinned by a young, growing consumer market and a continued drive to improve supply chain efficiency. Following this high-quality acquisition, our completed portfolio in Brazil will increase to 2.6 million square meters (28 million square feet). I feel particularly good about the quality and location of the facilities, as well as the strength of the tenancy and the network effect it will create when combined with our existing customer base.”