New and existing investors include seven Chinese institutional investors
Investor demand driven by increasing domestic consumption and rapid growth in e-commerce across China
GLP announced today the final close of its newest fund, GLP China Income Fund I (“GLP CIF I”) with a total investment capacity of RMB 15 billion (approximately US$2.1 billion) assets under management. Of the seven institutional investors in the new fund, six are new to GLP, marking continued demand by investors for logistics sector opportunities.
GLP CIF I is fully-seeded with 34 stabilized, income-producing assets in 18 cities across China, which remains the largest consumption opportunity in the world, with an advanced and rapidly-growing e-commerce market.
Teresa Zhuge, Executive Vice Chairman of GLP China, commented: “Despite the current environment, we received significant interest from institutional investors to participate in GLP CIF I. We believe it is a testament to GLP’s high-quality, modern logistics assets and our fund management and operational capabilities, which allow us to drive value through all phases of the asset life cycle. Investor demand for China logistics real estate is exceptionally strong and we are pleased to provide our institutional investor partners access to this market opportunity.”
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