GLP Capital Partners completes the sale of 12 logistics assets in Brazil totalling $300 million
São Paulo and Singapore, 31 January 2024 – GLP Capital Partners (“GCP”), a leading global alternative asset manager, today announced the sale of 12 logistics assets, in two separate transactions on behalf of two GCP Brazil funds, totalling 642,000 SQM of gross leasable area (“GLA”) and an aggregate value of approximately US$300 million. The properties sold are mostly located in key metro locations in São Paulo state.
The assets are fully let to top-tier customers including national and international leading operators in the pharmaceutical, retail, third-party logistics and fast-moving consumer goods industries.
“The sale of these 12 assets is a result of our focus on enhancing the assets’ appeal to the institutional market and supports our continued efforts to monetize and recycle capital for our partners,” said Ralf Wessel, Global Head of Fundraising at GLP Capital Partners.
“We believe the Brazilian logistics market fundamentals remain highly attractive. Despite the challenging macroeconomic climate, we continue to see high levels of occupier demand for best-in-class logistics space and these transactions underpin our team’s ability to identify and deliver on the right opportunities in the best locations, where we can utilize our development and asset management capabilities to drive added value,” added Mauro Dias, President, Brazil of GLP Capital Partners.
GCP is a global investment manager that specializes in acquiring, managing, and developing real estate assets and related technology investments. The company has $126 billion in assets under management (“AUM) in real estate and private equity funds.
In Brazil, GCP manages the largest logistics platform In Brazil with $3.1 billion in AUM, with a well-established track record dating back to 2012. With these transactions now complete, GCP will continue to invest and deploy resources in logistics real estate and technology and is committed to increasing its footprint in Brazil over the long term.
About GLP Capital Partners
GLP Capital Partners (“GCP”) is a leading global alternative asset manager that focuses on thematic investing across real assets and private equity. With $126 billion in total assets under management across 57 funds as of 30 September 2023, GCP has a strong history of leadership in high-growth Asian markets and a track record of success at scale in the US, Europe and Brazil. GCP is the exclusive investment and asset manager of GLP Pte Ltd. To learn more about GCP, visit www.gcp.com
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