European GLP fund raises €1.6 bln
GLP, a company operating in the logistics real estate sector, also in Poland, has acquired an additional €500 million for the European investment fund GLP Europe Income Partners II. will enable the total value of assets under the management of the fund to be increased to €3.2 billion. Additional funds were obtained from institutional investment partners in Europe, the Middle East and Asia. The total value of all assets managed by GLP in the key logistics markets in Europe is €10 billion.
GLP EIP II has a portfolio of top-class logistics properties located in strategic locations in Europe. These facilities are currently nearly 99 percent leased, and their average age does not exceed five years.
As Ralf Wessel, GLP's director of fund management said: “From the beginning, GLP EIP II has had excellent results, which fueled investor interest. We are glad that our strategy is appreciated by existing and new partners who are looking for investment opportunities that generate an attractive return."
"GLP has over 30 years of experience investing in Europe and developing high-end real estate here. We expect the European logistics market to accelerate even more in 2021 and therefore intend to continue our growth strategy and acquire more. objects in prime locations," Nick Cook, president of GLP Europe, added.
(WBJ)
