Allianz, GLP to Invest USD600 Million in China, Japan Logistics
Liao Shumin
DATE:  May 09 2019
/ SOURCE:  yicai
Allianz, GLP to Invest USD600 Million in China, Japan Logistics Allianz, GLP to Invest USD600 Million in China, Japan Logistics

(Yicai Global) May 9 -- Global investment management firm GLP has joined  forces with Allianz Real Estate to invest USD600 million on developing  logistics assets in China and Japan. 

"We continue to believe in the long-term fundamentals of the Asia-Pacific  region," said Rushabh Desai, Asia-Pacific chief executive for ARE in a  joint statement with Singapore-based GLP. "Logistics is a core part of  our investment strategy and this opportunity will further diversify our  portfolio." 

Munich-based ARE has committed USD600 million for GLP's funds in the two countries as part of the deal. 

This investment is part of ARE's strategy to grow its real estate presence  in the region. The firm had a global portfolio of EUR63.5 billion  (USD72.2 billion) as of the end of last year including EUR3 billion in  APAC and over EUR5.5 billion in logistics globally. 

Editor: William Clegg


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Keywords:   GLP,Allianz Real Estate