European fund GLP raised 1.6 billion EUR
GLP, a company operating in the logistics real estate sector, including in Poland, has raised an additional approximately 500 million EUR for the European investment fund GLP Europe Income Partners II. In total, the capital raised for GP EIP II amounts to approximately 1.6 billion EUR, more than originally assumed, which will ultimately enable an increase in the total value of assets under the fund's management to 3.2 billion EUR. Additional funds were raised from institutional investment partners in Europe, the Middle East, and Asia. The total value of all assets managed by GLP in key logistics markets in Europe is 10 billion EUR. GLP EIP II has a portfolio of top-class logistics real estate located in strategic locations in Europe. These facilities are currently nearly 99% leased, and their average age does not exceed five years.
„Since the beginning of its operations, GLP EIP II has been able to boast excellent results, which has driven investor interest. We are pleased that our strategy is valued by both existing and new partners who are looking for investment opportunities that generate attractive returns.” - emphasizes Ralf Wessel, Director responsible for fund management at GLP
"GLP has over 30 years of experience in investing in Europe and developing high-class real estate here. We expect the European logistics market to accelerate even further in 2021, and therefore we intend to continue our development strategy and acquire further facilities in prime locations.” - adds Nick Cook, President of GLP Europe.
The GLP division is one of the longest-operating fully integrated investors, developers, and managers of logistics buildings in Europe. Currently, the company manages assets with a total value of approximately 10 billion EUR. The GLP EIP II fund is the fourth in the company's history focused on activities in Europe.
