Market Overview

GLP Closes US$4.0 Billion of European Funds -- New Global Investors Added

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GLP Closes US$4.0 Billion of European Funds -- New Global Investors Added

PR Newswire

  • Fund investors in GLP EIP I and GLP EDP I comprise global sovereign wealth funds, pension plans, property and insurance companies; GLP is the manager and retains a 13% stake across both funds
  • GLP welcomes several new investors to its fund management platform including Korea Fire Officials Credit Union, Oxford Properties, QuadReal Property Group and Tesco Pension Investment
  • Demand from institutional investors remains strong; GLP plans to establish additional funds across Europe

LONDON, Aug. 21, 2018 /PRNewswire/ -- GLP, the leading global provider of modern logistics facilities and technology-led solutions, today announced the close of GLP Europe Income Partners I ("GLP EIP I") and GLP Europe Development Partners I ("GLP EDP I"). Long-term investors, including sovereign wealth funds, pension plans, property and insurance companies from North America, Asia, Europe and the Middle East, have invested in the funds.

GLP Logo (PRNewsfoto/GLP)

GLP welcomes several new investors to its fund management platform including: Korea Fire Officials Credit Union, the savings fund for Korea's fire service, Oxford Properties, the global real estate arm of OMERS, the defined benefit pension plan for municipal employees, QuadReal Property Group, the global real estate investment arm of BCI, Tesco Pension Investment, one of the largest private sector pension schemes in the UK. QuadReal Property Group has invested in GLP EDP I.

Ming Mei, Co-Founder and CEO of GLP, said: "We are pleased to further grow our fund management platform and welcome new partners while strengthening existing long-term investor relationships. Demand from institutional investors to partner with GLP remains strong and we plan to establish additional funds across Europe."

In December 2017, GLP established US$4.0 billion (EUR3.4 billion) of new funds in conjunction with its acquisition of Gazeley, a premier developer, investor and manager of logistics warehouses and distribution parks in Europe. Gazeley's platform comprises a 1.6 million sqm (17 million square feet) operational portfolio and development pipeline of 1.4 million sqm (16 million square feet) concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands.

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion in assets under management across its real estate and private equity segments. The Company's real estate fund platform is one of the largest in the world, spanning 62 million square meters (667 million square feet) globally. 

About Gazeley (www.gazeley.com)

Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 17 million square foot portfolio concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands. In addition to its operating portfolio, which is 96% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 16 million square feet. Gazeley is GLP's Europe platform.

Media Contact (GLP):

Ambika Goel, CFA
SVP- Capital Markets  
Tel: +65 6643 6372
Email: agoel@glprop.com

Media Contact (Gazeley):

Rob Yates
Smithfield
Tel: +44 (0)20 3047 2546
Email: ryates@smithfieldgroup.com  

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," "intends," "foresees," "estimates," "projects,"  and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP's assumptions are correct.

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SOURCE GLP

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