{"id":1004259434,"date":"2018-08-23T07:21:51","date_gmt":"2018-08-23T15:21:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004259434"},"modified":"2022-12-08T11:32:23","modified_gmt":"2022-12-08T19:32:23","slug":"glp-closes-4b-european-funds","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/glp-closes-4b-european-funds\/","title":{"rendered":"GLP Closes $4B in European Funds"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004259677\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004259677\" data-attachment-id=\"1004259677\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/glp-closes-4b-european-funds\/magna-park-milton-keynes-uk\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Magna Park Milton Keynes, UK\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Magna Park Milton Keynes, UK&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg?w=800\" class=\"wp-image-1004259677 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Magna-Park-Milton-Keynes-UK-.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004259677\" class=\"wp-caption-text\">Magna Park, Milton Keynes, UK<\/p><\/div>\n<p>GLP, a Singapore-based provider of modern logistics facilities and technology-led solutions, has closed GLP Europe Income Partners I and GLP Europe Development Partners I,&nbsp;totaling $4 billion.&nbsp;<\/p>\n<p>A variety of investors\u2014which include sovereign wealth funds, property firms, pension plans and insurance companies from North America, Europe, Asia and the Middle East\u2014have all invested in the two funds. These include Korea Fire Officials Credit Union, QuadReal Property Group, Oxford Properties and Tesco Pension Investment.&nbsp;<\/p>\n<h2>Continued growth&nbsp;<\/h2>\n<p><em>\u201cWe 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,\u201d&nbsp;<\/em>said Ming Mei, co-founder &amp; CEO of GLP, in a prepared statement.&nbsp;<\/p>\n<p>GLP established the funds in December of last year, in conjunction with the company&#8217;s acquisition of Gazeley, a developer, manager and investor with a focus on logistics warehouses and distribution parks in Europe. The platform encompasses a 17 million-square-foot operational portfolio and a 16 million-square-foot development pipeline in the UK, France, Germany and the Netherlands.&nbsp;<\/p>\n<p><em>&#8220;Ownership by GLP has made our business stronger than ever, and we are in a great position to capitalize on the ongoing opportunities in the evolving European logistics real estate market,\u201d<\/em> Nick Cook, CEO of Gazeley, told <em>Commercial Property Executive.&nbsp;<\/em><\/p>\n<p>In March,&nbsp;GLP signed new leases representing a total of <a href=\"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/\">9.3 million&nbsp;square feet of logistics and warehouse space<\/a> worldwide during the fourth quarter of 2017.<\/p>\n<p><em>Image courtesy of GLP<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The platform encompasses a 17 million-square-foot operational portfolio and a 16 million-square-foot development pipeline in the UK, France, Germany and the Netherlands. <\/p>\n","protected":false},"author":746,"featured_media":1004259677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,16,21783,21742],"tags":[33822,41723,33104],"class_list":["post-1004259434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-international","category-investment","category-latest","tag-glp","tag-ming-mei","tag-oxford-properties-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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