Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager in 2017. In addition, GLP announces that it has closed on the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio.
GLP currently has $7 billion of assets under management across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this unique, high-quality portfolio spread across Poland, Czech Republic, Slovakia and Hungary expands GLP’s European presence to 11 countries placing it within a select number of logistics real estate investors with a truly pan-European platform.
“Since entering the market in 2017, GLP has strategically expanded its presence across Europe to meet investor demand and support its disciplined pan-European growth strategy. We believe attractive macroeconomics, urbanization, e-commerce growth and proximity to major distribution hubs across Europe are helping to drive Central and Eastern Europe’s logistics real estate market,” Nick Cook, President, GLP Europe, said.
GLP is one of the largest real estate companies in the world. The transaction includes 48 industrial and warehouse buildings in Poland (almost 70 percent of the purchased portfolio is located here), the Czech Republic as well as in Hungary and Slovakia. The value of this transaction is approximately €1 billion.