After it became clear that Global Logistic Properties (GLP) would be privatised, I have been looking for a replacement. The investment thesis for GLP is that it has a REIT manager business model, constantly developing new logistic properties and spinning them off into REITs and private equity funds. The more properties it spins off into REITs and funds, the less it owns them, and the more it resembles Uber, which owns no taxis but is considered the world’s largest taxi company. See The GLP Story for more information. Thus, when I look for a replacement for GLP, I am looking at a company with a similar business model.
The easiest leads would be to look at the REITs listed on SGX and identify who are the REIT managers behind them. There are a couple of REIT families, managed by ARA, Ascendas, Capitaland, Frasers Centrepoint (FCL), Keppel Corp, Lippo/OUE and Mapletree. …