Submitted by glpadmin1 on Tue, 07/27/2021 - 15:47

GLP Closes RMB4.5 Billion China Income Fund III

GLP Closes RMB4.5 Billion China Income Fund III

GLP CIF III portfolio includes 11 stabilised industrial and logistics park assets catering to growing high-tech and innovation based manufacturing industries aligned with China’s economic growth initiatives

Shanghai, 28 July 2021?– GLP has closed its latest China onshore income vehicle, GLP China Income Fund III (“GLP CIF III”), with a long term investment partner. The portfolio includes RMB4.5 billion (~US$700 million) of stabilised, income-generating industrial and logistics park assets catering to growing high-tech and innovation based manufacturing industries aligned with China’s economic growth initiatives.

The 11 assets have a lease ratio of 95 percent as of May 2021 and are located in key logistics and industrial hub areas of Shanghai, Suzhou, Tianjin, Chengdu, Wuxi and Changzhou. The portfolio assets were contributed by GLP China.

Teresa Zhuge, Executive Vice Chairman of GLP China, commented: "We continue to see robust investor demand for stable logistics and industrial assets and income streams in China. The fund management platform is an important source of capital for GLP and we will continue to raise capital for both our development pipeline and stabilized assets to scale our business effectively while generating attractive returns for our investors.”

In China, GLP’s total GFA exceeds 43 million square meters (463 million square feet) and real estate AUM is more than US$40 billion. The company manages onshore and offshore logistics strategies with return targets ranging from core to opportunistic. In June 2021, GLP C-REIT (SSE: 508056) was the first logistics C-REIT to be listed on the Shanghai Stock Exchange.

About GLP
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 allow us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, the U.S. and Vietnam and have more than US$100 billion in assets under management in real estate and private equity. Learn more at glp.com/global.

Investor Contact:

Craig A. Duffy
Managing Director, Fund Management
Tel: +852 9038 5284
Email: cduffy@glp.com

Media Contact:?

Faye Kwan
VP, Global Communications
Tel: +65 6933 3608
Email: fwee@glp.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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