GLP has completed a first close for its fourth Europe-focused investment vehicle, GLP Europe Income Partners II (GLP EIP II), with €1.1 billion ($1.3 billion) of equity commitments.
The pan-European logistics fund brought in both new and existing global institutional investor partners, according to GLP.
GLP EIP II is seeded with a portfolio of income-producing assets, largely sourced off-market, which totals 1.9 million square meters (20.4 million square feet) across 25 logistics locations in nine countries. GLP said the portfolio has performed well throughout 2020, with nearly 100,000 square meters (1 million square feet) of new leasing, growing occupancy to more than 97 percent.
“Since entering the European market in 2017, GLP has tripled its assets under management and strategically expanded its presence to meet investor demand and support its disciplined growth strategy,” said Ralf Wessel, managing director, fund management, at GLP. “In 2020, GLP add
