GLP C-REIT gets approval in China and will start trading in late June 2021
GLP C-REIT is among the first batch of real estate investment trusts (REITs) approved in China and is expected to start trading in late June 2021 on the Shanghai Stock Exchange under the stock code 508056.
The portfolio comprises seven modern logistics assets with over 700,000 sqm of gross floor area valued at RMB 5.3 billion (approx. US$830 million). The assets have a lease ratio of 98.7 percent as of December 2020 and are located in the core logistics hub areas of Beijing, the Yangtze River Delta, and the Greater Bay Area.
GLP is the market leader in ground-up development and asset management of modern logistics real estate in China. Combining the best practices of a disciplined investor and global specialised logistics real estate operator, the company has built a strong reputation over the past two decades and currently manages more than US$20 billion AUM of logistics real estate funds across income, value-add and development strategies in China.
GLP is also the sponsor, asset manager and property manager of GLP J-REIT (TSE: 3281), which was listed on the Tokyo Stock Exchange in December 2012 in one of Japan’s largest real estate IPOs. GLP J-REIT has a market capitalisation of JPY 703.7 billion (US$6.4 billion) as of December 2020, representing a compound annual growth rate of more than 25% since inception.
GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Our combined investing and operating expertise allows us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, the U.S. and Vietnam and have over US$100 billion in assets under management in real estate and private equity. Learn more at glp.com/global
Craig A. Duffy
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