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GLP raises $447m for newest China-focused logistics fund: Report

[Updated] GLP closes modern logistics-focused China Income Fund II at $900m Photo: GLP website Editor’s note:  This story has been updated with more detailed information from a GLP statement received on April 27. Singapore-based GLP, Asia’s biggest warehouse operator, has raised 2.9 billion yuan ($447 million) for its newest China-focused logistics fund, according to an IPE report. In a subsequent statement on Tuesday, GLP confirmed the close of the new fund. The fund, dubbed “GLP China Income Fund II (GLP CIF II),” has a total investment capacity of 5.8 billion yuan (approximately $900 million) and is seeded with a portfolio of 13 modern logistics assets in prime locations across Yangtze River Delta, southern China, and mid-western China, according to the statement. Limited partners (LPs) in GLP CIF II comprise new and existing domestic institutional investors in China.

GLP Logistics Leasing Jumped 57% in 2020

Mingtiandi Username A surge in e-commerce activity helped to drive GLP’s leasing in 2020 GLP on Thursday reported record-high leasing and development activity for its logistics business in 2020 as the e-commerce trend kicked into high gear during the COVID-19 crisis. The world’s second-largest industrial real estate developer said its logistics business signed more than 22.7 million square metres (244 million square feet) of new and renewal lease agreements last year, up 57 percent from 2019. The segment also launched $5.3 billion or 5.6 million square metres of new development projects in 2020, up 75 percent year-on-year. E-commerce now represents about 40 percent of GLP’s global portfolio, compared with 20-25 percent five years ago.

Keppel Capital launches $217m China logistics property fund

Keppel Capital launches $217m China logistics property fund Shanghai, China. Source: Ralf Leineweber/Unsplash Premium Singapore-based asset manager Keppel Capital has launched its inaugural China-focused logistics property fund with an initial equity commitment of 1.4 billion yuan ($217 million), according to an announcement. Continue reading this story with a subscription to DealStreetAsia. Contact us for corporate subscriptions at subs@dealstreetasia.com. Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday REGISTER stories left placeholder You have one free story left this month. You have stories left placeholder free stories left this month.

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