Allianz, GLP to invest US$600m in logistics across China and Japan
Investment marks beginning of partnership intended to leverage Allianz Real Estate’s investment and asset manager experience for real estate and GLP’s logistics knowledge
GLP, a global investment management firm with US$64 billion AUM that specializes in real estate and related logistics technologies, has formed a new investment partnership with investors Allianz Real Estate.
Allianz Real Estate has committed US$600 million to GLP’s funds in China and Japan, on behalf of several Allianz group companies. The funds will focus on developing and investing in logistics assets with integrated technologies in China and Japan.
This investment is part of Allianz Real Estate’s strategy to grow its real estate exposure in the Asia-Pacific region. At the end of 2018, Allianz Real Estate had a global portfolio of 63.5 billion euros with over 3 billion euros in the Asia-Pacific region and over 5.5 billion euros in logistics globally.
Ming Mei, co-founder and CEO of GLP, says, “We look forward to building our relationship with Allianz Real Estate across our markets.”
“We continue to believe in the long-term fundamentals of the Asia-Pacific region. Logistics is a core part of our investment strategy and this opportunity will further diversify our portfolio,” says Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate.
GLP’s China and Japan development funds focus on developing modern, large-scale logistics facilities across China and in the Greater Tokyo and Osaka regions in Japan.
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8 May 2019