GLP Launches Largest Logistics Private Open-Ended Income Fund in Japan
GLP announced today that it has launched GLP Japan Income Fund with JPY 280 billion (US$2.6 billion) AUM at inception. It is Japan’s largest private open-ended logistics real estate income fund.
The fund will be seeded with 11 newly developed modern logistics assets in Greater Tokyo and Osaka GLP has announced $4.7 billion of logistics funds globally over the past few months
Singapore and Tokyo, 25 August 2020 – GLP announced today that it has launched Japan’s largest private open-ended logistics real estate income fund, GLP Japan Income Fund (“GLP JIF”), with JPY 280 billion (US$2.6 billion) assets under management (“AUM”) fund at inception. The majority of investors in GLP JIF are new to GLP and include pension funds, financial and insurance companies and sovereign wealth funds, investing alongside GLP.
GLP is a pioneer and market leading investor and developer of modern logistics real estate with approximately US$19 billion AUM in Japan and US$89 billion globally. GLP JIF will be seeded with 11 newly developed modern logistics assets in Greater Tokyo and Osaka, providing long-term stable cash yields to investors. The assets are 100 percent leased and include six LEED Gold and Platinum certified developments.
Yoshiyuki Chosa, president of GLP Japan, said “GLP Japan Income Fund represents a significant milestone for our business and highlights the strength and track record of GLP as an asset manager and developer. Customer demand remains strong and we will continue to raise the bar by creating signature developments that drive innovation in the Japan logistics real estate industry.”
Ralf Wessel, managing director, fund management, of GLP in Singapore, said “Investor interest from domestic and international investors in GLP Japan Income Fund was very strong. We believe it is a testament to our high-quality, modern logistics assets and our fund management and operational capabilities, which allow us to drive value for our investors through all phases of the asset life cycle.”
In recent months, GLP has announced $4.7 billion of logistics funds globally. In addition to GLP JIF, the company announced its US$2.1 billion China Income Fund I (“GLP CIF I”) in April.
GLP is also the sponsor and manager of GLP J-REIT (3281:TSE), a best-in-class real estate investment trust which was listed on the Tokyo Stock Exchange in December 2012, in one of Japan’s largest real estate IPOs. GLP remains fully committed to the growth and success of both GLP J-REIT and GLP JIF.
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, and the U.S. and have US$89 billion in assets under management in real estate and private equity funds. Learn more at glprop.com
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