GLP Capital Partners (GCP) announced it has sold 13 logistics assets from its portfolio in Brazil for a total of R$1.77 billion ($300.3 million) to BTG Pactual Logistica FI Imobiliario (BTLG11) managed by BTG Pactual.
According to SiiLA’s data, this is the largest logistics real estate transaction in the B-REIT market and continues GCP’s track record of successful asset monetization and capital recycling. The company has completed over R$6 billion ($1.05 billion) of strategic divestments over the past four years.
The portfolio of 13 assets has a total of 542,000 square meters (5.8 million square feet) of gross leasable area, and the properties are predominantly located within a 60-kilometer (40-mile) radius of Sao Paulo, as well as in the states of Pernambuco and Rio de Janeiro.
"We are committed to generating value for our investors by maximizing returns through capital recycling,” said Mauro Dias, president of GLP Capital Partners in Brazil. “The sale
