Search
 

GLP Closes on $2.8B Gazeley Buy

The European owner/developer's logistics portfolio will be incorporated into GLP's fund management platform, which now stands at US$43 billion.

By Paul Bubny | Updated on December 20, 2017

Aerial view of warehouse facilities Swindon Distribution Park, one of the UK assets in the Gazeley portfolio.

LONDON—GLP, the publicly traded industrial giant whose shareholders recently approved a privatization, said Wednesday it had completed its acquisition of Gazeley from Brookfield. The US$2.8-billion deal marks GLP’s entry into Europe and was first announced in October.

In connection with the Gazeley acquisition, GLP has established two new funds and increased the size of its fund management platform by US$4 billion to US$43 billion. The first of the two funds, GLP Europe Income Partners, comprises a US$2- billion portfolio of Gazeley’s operating assets across key markets. The second, GLP Europe Development Partners I, is a development venture expected to reach US$2 billion when fully leveraged and invested. It’s seeded from Gazeley’s existing pipeline, with land to support 16 million square feet of buildable area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.