GLP and its partners CPP Investment Board Europe and QuadReal Property Group are expanding the investment capacity of the GLP Continental Europe Development Partners I (GLP CDP I) vehicle, targeting €4 billion ($4.7 billion) of assets under management upon stabilization.
Through this expansion, CPP Investments has committed €900 million ($1 billion) of equity, representing a 45 percent share, and QuadReal has committed €800 million ($948 million) of equity, representing a 40 percent share. The remaining 15 percent share is held by GLP.
GLP CDP I was formed in 2018 to develop modern logistics assets in continental Europe, including Germany, France, Italy, Spain and the Netherlands. The upsize will be used to transform GLP CDP I into a pan-European development vehicle by strategically expanding in the United Kingdom and Central and Eastern Europe markets. The fund will acquire landbank and high-quality logistics development opportunities.
“This upsize is t
