GLP Capital Partners Completes the Sale of a Portfolio of Three Assets in Spain

MADRID, September 19, 2024 – GLP Capital Partners (“GCP”), a leading global alternative asset manager, has today announced the sale of a portfolio of logistics assets in Spain, totalling 113,000 sqm, on behalf of its pan-European development fund to EQT Exeter. The three fully-let Grade A Spanish logistics assets are located in Valls, Illescas and Guadalajara.

The GLP-developed warehouses were brought to market owing to the stabilised nature of the portfolio, its attractive quality and realisable gains. The assets are strategically located in close proximity to well-established transportation networks and have all achieved BREEAM Very Good and EPC Class A sustainability certifications. The sale forms part of a regular process of optimising fund portfolio allocation, crystallising capital gains and maximising fund performance.

The transaction represents a continuation of GCP and GLP’s long established presence in Spain as a leader in the development, management and operation of logistics real estate throughout the country. Following completion of the sale, GLP will continue to deepen and grow its logistics real estate footprint in the market.

Daan van den Hoven, Managing Director, Europe, GLP Capital Partners, said: “The sale of these assets demonstrates the strength of our investment platform and our ability to acquire, develop, enhance, aggregate and realise a strong portfolio of assets. We look forward to building on our continued commitment to creating value for our investors by optimising returns through the recycling of capital from our development programme.”

Óscar Heras, Director of GLP Spain, said: “We believe that the Spanish logistics market continues to be driven by robust fundamentals. Despite macroeconomic headwinds, occupier demand for best-in-class logistics space remains strong. This transaction is testament to our ability to deliver value by utilising our significant development expertise, client relationships and leveraging the local expertise of our exceptional in-country team. We look forward to growing our footprint in Spain as we continue to source attractive opportunities in the market.”

GCP was advised on the transaction by DLA Piper and CBRE.

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 $122 billion in total assets under management across 66 funds as of 30 June 2024, 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, please visit www.gcp.com.

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