CIF VII is the seventh fund in GLP’s logistics income fund series in China and the second income fund to close this quarter. GLP has raised over $15 billion over the past 12 months for its logistics funds globally across core, value-add and development strategies
GLP announced today it has closed GLP China Income Fund VII (“GLP CIF VII”), the seventh fund in GLP’s logistics income fund series with RMB 5.4 billion (~US$743 million) of assets under management (“AUM”). Investors in the fund include leading domestic insurance companies including new and existing investors that have previously participated in its onshore funds.
The fund is seeded with 13 stabilised modern logistics assets from GLP’s balance sheet that are located across key logistics hubs including Shanghai, Qingdao, Wuhan and Changsha. The total leasable area is 800,000 sqm and serves top customers in e-commerce, logistics and retail sectors. In-line with the company’s income fund series, the portfolio are quality core income-generating properties ensuring strong and recurrent cash-flow generation.
Read the full press release at the link below