Morrison & Foerster Advises GLP On Establishment Of US$675 Million China Value-add Real Estate Fund.
Legal News & Analysis - Asia Pacific - China - Construction & Real Estate
7 January 2021
A cross-office team of Morrison & Foerster attorneys acted as international counsel to long-time client GLP Pte. Ltd., a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, in the formation of GLP China Value-Add Venture III (“GLP CVA III”) with a group of leading international and domestic institutional investors through a parallel fund structure.
As detailed in GLP’s press release, GLP CVA III has a total investment capacity of RMB 4.5 billion (approximately US$675 million) and will invest in modern logistics assets in GLP Park Lingang in Shanghai, the biggest and most advanced port-based logistics park in China. GLP CVA III is the third China-focused value-add fund in GLP’s logistics real estate series which seeks to generate long-term, stable returns, by investing in high-quality and well-designed properties in prominent locations.
The MoFo team advising GLP was led by Singapore partners Shirin Tang and Lip Kian Ang and Singapore associate Gillian Teo. Other key team members include Hong Kong partners Serena Tan and Matthew Lau and Hong Kong associates Joanna Wang and Andrew Chin.
With more than 40 real estate attorneys on the ground, MoFo’s award-winning Asia real estate team has deep experience in all phases of the real estate cycle and all real estate asset classes. Our clients include real estate private equity firms, investment managers, sovereign wealth funds, development companies, and REITs that invest in real estate assets. Since 2016, we have advised on more than 100 significant real estate transactions in Asia with total deal value in excess of US$200 billion. Despite the impact of COVID-19, we have continued to guide leading global real estate players in key sectors, including maiden investments in data centers in India, China and Indonesia as well as investments in logistics assets across Asia.
Shirin Tang, Managing Partner, Morrison Foerster