Industrial Income Trust to be acquired by Global Logistic Properties affiliate.

Industrial Income Trust (IIT) has agreed to be acquired by Western Logistics II LLC, an affiliate of Global Logistic Properties Limited (GLP), in an all-cash transaction valued at approximately $4.55 billion. The deal is subject to certain transaction costs and is expected to close concurrently with IIT transferring 11 properties currently under development or in the lease-up stage.