New U.S. Industrial Fund to Spend $1.5 Billion
ByGLP US Incomes Partners III will be seeded with a $1.1 billion portfolio from Hillwood.
GLP CEO Ming Z. Mei
Chicago—GLP, a Singapore-based global provider of logistics facilities and the second largest owner and operator in the United States, is once again firmly focused on the U.S., establishing a new fund that plans to invest $1.5 billion over three years.
GLP US Incomes Partners III will be seeded with a $1.1 billion portfolio from Hillwood. The first part of the deal is closing this month with the purchase of a $700 million portfolio from Hillwood that was announced in September. The remaining $400 million of identified pipeline assets from Hillwood, a Dallas-based development firm that develops and acquires industrial properties across North America and Europe, will be acquired in phases upon completion and lease-up. GLP, as the asset manager of the fund, will also make another $400 million in acquisitions that satisfy the fund’s investment criteria…
New U.S. Industrial Fund to Spend $1.5 Billion
