Gazeley has announced that it is adopting the GLP brand name following its acquisition by the global investment manager in 2017. In addition, GLP has announced that it has closed the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio.
Over the last 30 years, Gazeley has built a strong reputation as a main investor and developer of logistics warehouses across Europe. Since GLP acquired Gazeley in 2017 to enter the European logistics real estate market, the European business has doubled in size.
GLP currently has $7bn of assets under management across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this portfolio spread across Poland, Czech Republic, Slovakia and Hungary expands its European presence to 11 countries placing it within a select number of logistics real estate investors with a truly pan-European platform. According to GLP, the acquired portfolio is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It will allow it to better support existing customers with their expanding supply chain requirements across Europe.
Nick Cook, President, GLP Europe, commented: “GLP has strategically expanded its presence across Europe to meet investor demand and support its disciplined pan-European growth strategy. We believe attractive macroeconomics, urbanisation, e-commerce growth and proximity to major distribution hubs across Europe are helping to drive Central and Eastern Europe’s logistics real estate market. The completion of this transaction is symbolic of our recent growth and ambitions for the next period.”
