Logistics giant GLP raises $2.7 bln for Japan real estate fund

Japan Real Estate Investment

19/10/2021 05:58

TOKYO, Oct 19 (Reuters) - Asia's biggest warehouse operator,
GLP, said on Tuesday it raised 311 billion yen ($2.73 billion)
for its largest Japan-focused private real estate fund amid a
global boom in the logistics sector spurred by growing
e-commerce sales.
    The fund, GLP Japan Development Partners IV, is expected to
reach over 1 trillion yen of assets under management when fully
deployed, GLP said in a statement.
    It will focus on developing logistics facilities in Japan,
in particular large-scale projects in the greater Tokyo and
Osaka regions.
    GLP, owned by a Chinese consortium, has more than $120
billion of assets under management in real estate and private
equity, the company said.



($1 = 114.1200 yen)

 (Reporting by Makiko Yamazaki; Editing by Kim Coghill)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))