GLP C-REIT has raised about RMB1.85bn (€243m) in a follow-on equity offering to acquire new logistics assets in China.

The capital would fund the acquisition of GLP Park Qingdao Qianwan Port, GLP Park Jiangmen Heshan and GLP Chongqing Urban Distribution Logistics Centre.

Following the transaction GLP C-REIT’s portfolio will comprise 10 modern logistics assets in China with a total leasable area of 1.16m sqm.

GLP C-REIT was among the first batch of nine public C-REITs to be listed on China’s domestic stock exchanges in June 2021.

The capital raising in China came after last week’s equity raise by GLP J-REIT in Japan which attracted ¥30.9bn (€208m) for the purchase of three properties and a stake in a fourth facility.

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