Morrison Foerster Advises on $5 Billion Recapitalization and Exit of GLP China Logistics Fund I

A cross-office team of Morrison Foerster attorneys acted as international counsel to GLP’s China Logistics Fund I (“GLP CLF I”) and its affiliates in the $5 billion recapitalization of the portfolio developed within GLP CLF I.

As detailed in GLP’s press release (GLP Announces $5 Billion Recapitalisation to Establish China’s Largest-Ever Private Logistics Real Estate Income Fund | GLP), the transaction represents a successful and full exit for GLP CLF I, GLP’s flagship USD-denominated, logistics develop-to-core strategy formed in 2013 with $1.5 billion of capital commitments from leading institutional investors. Since then, GLP has executed on a focused and disciplined development strategy to create a diversified portfolio of 54 prime, institutional‑grade, modern logistics assets, totaling over 5 million square meters of gross floor area across 27 key logistics markets in China. The portfolio received strong interest from both existing GLP CLF I investors, who opted to rollover their investment, as well as new investors.

The MoFo team was led by Singapore partners Lip Kian Ang, Yemi Tépé, Shirin Tang, and Jason Nelms. Other key team members include Hong Kong partners Matthew Lau and Maureen Ho, Singapore associates Charlyn Lim, Mark Tay, Yong Wei Tan, Timothy Lim, and Yixian Zhao, and Hong Kong associate Julia Lee.

Morrison Foerster’s award-winning Asia real estate practice is comprised of over 40 lawyers, across our five offices in the region, and has advised on more than 150 significant real estate transactions in Asia over the last six years, with a total deal value in excess of $230 billion. In the last two years alone, our Singapore team advised on over $60 billion of complex real estate asset management transactions spanning South and Southeast Asia, Japan, China, and Latin America.