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GLP Capital Partners Closes $2.3B Fund for Logistics Real Estate

Investment manager GLP Capital Partners (GCP) has reached final closing of its North American logistics real estate fund, GLP Capital Partners IV. At more than $2.3 billion in aggregate capital commitments, the fund exceeded its $2-billion target and is reportedly the largest discretionary closed-end fund focused on North American logistics real estate ever raised. 

“We began raising this fund just as the global pandemic changed so much about our economy and daily lives,” said Alan Yang, founder, CEO and senior managing director of GCP. “Our team stayed focused on delivering a compelling value proposition to investors. The fundraise is a testament to the demand for logistics real estate driven by accelerating e-commerce.”

The fund aims to invest in institutional-quality logistics assets across the value creation spectrum that are strategically located in infill and key distribution markets. At its final closing, the fund was more than 50% committed to investments.

Yang and his team established Los Angeles-based GCP in 2019, following their $18.7-billion sale of the GLP U.S. portfolio to Blackstone.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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