GLP Capital Partners (GCP) has sold 12 logistics assets in two separate transactions on behalf of two GCP Brazil funds, totaling 642,000 square meters (6.9 million square feet) of gross leasable area (GLA) and an aggregate value of approximately $300 million. The properties sold are mostly located in key metro locations in São Paulo state.
The assets are fully let to top-tier customers including national and international leading operators in the pharmaceutical, retail, third-party logistics and fast-moving consumer goods industries.
“The sale of these 12 assets is a result of our focus on enhancing the assets’ appeal to the institutional market and supports our continued efforts to monetize and recycle capital for our partners,” said Ralf Wessel, global head of fundraising at GLP Capital Partners.
Mauro Dias, president, Brazil of GLP Capital Partners, added, “We believe the Brazilian logistics market fundamentals remain highly attractive. Despite the c
