GLP Capital Partners (“GCP”), a leading global alternative asset manager, today announced the sale of 12 logistics assets, in two separate transactions on behalf of two CP Brazil funds, totaling 642,000 SQM of gross leasable area (“GLA”) and an aggregate value of approximately US$300 million. The properties sold are mostly located in key metro locations in São Paulo state.
The assets are fully let to toptier customers including national and international leading operators in the pharmaceutical, retail, third-party logistics and fast-moving consumer goods industries.
“The sale of these 12 assets is a result of our focus on enhancing the assets’ appeal to the institutional market and supports our continued efforts to monetize and recycle capital for our partners,” said Ralf Wessel, Global Head of Fundraising at GLP Capital Partners.
“We believe the Brazilian logistics market fundamentals remain highly attractive. Despite the challenging macroeconomic climate, we continue to see high levels of occupier demand for best-in-class logistics space and these transactions underpin our team’s ability to identify and deliver on the right opportunities in the best locations, where we can utilize our development and asset management capabilities to drive added value,” added Mauro Dias, President, Brazil of GL Capital Partners.
GCP is a global investment manager that specializes in acquiring, managing, and developing real estate assets and related technology investments. The company has $126 billion in assets under management (“AUM) in real estate and private equity funds.
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