GLP Capital Partners China closes $492m income fund

GLP Capital Partners (GCP) has closed on a new closed-end office income strategy with total AUM of RMB 3.6 billion ($492 million).

The income fund has invested in a high quality, core office complex, totaling 63,000 square meters (678,126 square feet) in Beijing. Situated in Beijing’s East Second Ring Road Business District, the office complex serves many blue-chip customers seeking to establish headquarters in the established commercial cluster.

“We continue to see sustained investor appetite for assets generating stable and secured cash flows,” said Teresa Zhuge, executive vice chairman and president, China at GLP Capital Partners. “The successful closing of the income fund is a strong recognition of our investment and asset-management capabilities and demonstrates a significant enhancement in asset performance driv