GLP has raised around RMB2.9 million for its GLP China Income Fund (CIF) II, which has 13 assets and a total investment capacity of RMB5.8 billion, media reports said. According to GLP, it has raised the equity from four domestic investors.
Teresa Zhuge, GLP China’s executive vice chairman, told the media, “The launch of GLP China Income Fund II is consistent with several key elements of our strategy, including recycling assets and further growing our fund management platform.
“Demand from institutional investors to partner with GLP in China continues to be strong and we plan to establish additional new income and development funds there.”
Last year, GLP’s Japan-focused REIT raised around $532 million in a global offering to acquire seven Japanese warehouse properties, the company said in a statement. The portfolio of assets purchased by GLP Japan Real Estate Investment Trust included six Greater Tokyo facilities and one Osaka-area warehouse. They had a combined leasable area of roughly 328,000 square metres, the company said. The portfolio acquisition was completed on December 11th, 2020.
GLP further added that it was GLP J-REIT’s biggest acquisition since its initial public offering (IPO) in 2012. The portfolio acquisition now places the company among the largest logistics listed trusts in Japan.
Yoshiyuki Miura, president of GLP Japan Advisors said that during 2020, GLP J-REIT raised approximately $737 million of capital the company is focused on executing its expansion and growth strategies to strengthen its position as a market leader in the J-REIT market.