Press Release

MoFo Represents GLP on Establishment of $1.5 Billion GLP US Income Partners III

16 Dec 2016

SINGAPORE (December 16, 2016) – Morrison & Foerster, a leading global law firm, is advising Global Logistic Properties Limited (GLP), the leading global provider of modern logistics facilities, in the establishment of GLP US Income Partners III with six leading global institutional investors from Asia, the U.S. and the Middle East, and total equity commitments of US$620 million. GLP US Income Partners III is expected to invest US$1.5 billion (when fully leveraged and invested) over three years. For more information, see GLP’s press release.

The Morrison & Foerster team representing GLP is being led by San Francisco partner Ken Muller, San Diego partner Shane Shelley, Singapore partner Shirin Tang and Singapore associate Lip Kian Ang. Advice is also being provided by Washington, D.C. partner Nicholas Spiliotes and Washington, D.C. of counsel Aki Bayz on CFIUS matters.

Morrison & Foerster has also represented GLP in numerous other transactions in its global expansion, including advising GLP or its affiliates in connection with the following:

  • Co-investment with an affiliate of Singapore sovereign wealth fund GIC Pte Ltd in a US$8.1 billion acquisition from the Blackstone Group of one of the largest real estate portfolios in the United States, the injection of the portfolio into GLP US Income Partners I, and the syndication by GLP of 45% of the interests in GLP US Income Partners I to two leading global institutional investors from Asia and one from North America.
  • Acquisition of a US$4.55 billion logistics portfolio from Industrial Income Trust, the injection of the portfolio into its fund management platform, and the establishment of GLP US Income Partners II with leading global institutional investors.
  • Formation of a US$1.1 billion fund in Brazil, GLP Brazil Income Partners II, and the acquisition of the portfolio of assets injected into the fund. 
  • Formation of a US$7 billion fund, one of the world’s largest China-focused logistics infrastructure funds.
  • Establishment of a US$2.4 billion joint venture, a US$2 billion joint venture, and a US$1.6 billion joint venture in Japan.
  • Establishment of a US$1.4 billion joint venture for the acquisition of 40 logistics properties in Brazil.
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