Morrison Foerster Advises GLP Capital Partners on RMB 1.75 Billion Capital Raise for China Value-Add Strategies

Morrison Foerster acted as international counsel to GLP Capital Partners in closing approximately RMB 1.75 billion (c. USD 250 million) of fresh capital for its China value-add strategies. As detailed in GCP’s press release (GLP Capital Partners announces RMB 1.75 billion of new capital raised for China value-add strategies - GLP Capital Partners (gcp.com)), the equity was raised from a leading global institutional investor, and when fully leveraged will be invested in a pre-identified portfolio of GLP-developed modern logistics assets valued at approximately RMB 3.5 billion (c. USD 500 million). The seed portfolio comprises four high quality, income generating logistics industrial parks located in Beijing, Shanghai, and the Greater Bay Area with total net leasable area of more than 420,000 sq m. The parks serve customers in the advanced manufacturing sector, including new energy vehicle producers that are establishing domestic manufacturing bases as part of China’s “New Economy” drive.

The Morrison Foerster team was led by Singapore partners Lip Kian Ang, Yemi Tépé, and Shirin Tang, and Singapore associates Mark Tay, Yixian Zhao, and Timothy Lim. Other key team members include Hong Kong partner Matthew Lau.

Morrison Foerster’s award-winning Asia real estate practice is comprised of over 40 lawyers across our five offices in the region, and has advised on more than 150 significant real estate transactions in Asia in the past three years, with a total deal value in excess of over USD 70 billion. In the last two years alone, our Singapore team advised on over USD 25 billion of complex asset management and other transactions in the real estate space spanning South and Southeast Asia, Japan, China, and Latin America.