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Logistics giant GLP raises $2.7 billion for Japan real estate fund By Reuters

by Mike Robinson

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© Reuters.

TOKYO (Reuters – Asia’s largest warehouse operator, GLP said Tuesday that it raised 311 Billion Yen ($2.73B) to finance its largest Japan-focused real estate fund. The announcement came amid a worldwide boom in the logistic sector, fueled by increasing e-commerce sales.

GLP Japan Development Partners IV expects the fund to have more than 1 trillionyen worth of assets managed when fully utilized, according to a statement.

The company will concentrate on the development of logistics infrastructure in Japan, with a particular focus in large-scale projects within Osaka and Tokyo.

GLP is owned by a Chinese group and has assets in private equity and real estate worth more than $120 million.

($1 = 114.1200 yen)

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