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GLP appoints Natali Cooper to lead ESG in Europe

GLP, a leading investor and developer of logistics warehouses and distribution parks, announced today that it has appointed Natali Cooper as Head of Portfolio, Asset Management and ESG, Europe. Natali has played a lead role in the development of GLP’s ESG strategy across its European portfolio and through its funds.

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GLP ANNOUNCES COMPLETION OF FIRST EVER DEVELOPMENT VERIFIED AS NET ZERO CARBON FOR CONSTRUCTION IN LINE WITH THE UKGBC FRAMEWORK

GLP, investor and developer of logistics warehouses and distribution parks, today announces that it has delivered the first net zero carbon development to be officially verified as Net Zero carbon for construction in line with the UKGBC Net Zero Carbon Buildings Framework Definition. The development, known as Magnitude 313, was

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Gazeley to Adopt GLP Brand in Europe

GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager

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BDC 319 : Aug 2024

nick cook

GLP appoints Natali Cooper to lead ESG in Europe

GLP, a leading investor and developer of logistics warehouses and distribution parks, announced today that it has appointed Natali Cooper as Head of Portfolio, Asset Management and ESG, Europe. Natali has played a lead role in the development of GLP’s ESG strategy across its European portfolio and through its funds. Through the new role, Natali will be responsible for the ongoing implementation and evolution of the strategy across the European business. In addition, Natali will remain in charge of the portfolio and asset management functions as an ongoing strategic priority for the business. GLP has established a broad range of environmental, social and governance commitments that elevate the business and create value for its stakeholders. These cover a number of areas including developing and managing sustainable assets and promoting the well-being of its people, partners and communities. GLP has pioneered market-leading sustainability initiatives in the logistics real estate sector including the development of Magnitude at Magna Park, Milton Keynes which is one of the first designated net-zero logistics building in the UK. Nick Cook, President, GLP Europe, said: “Our approach to sustainability and ESG sits at the heart of our decision-making process. Natali has led the way in developing our long-term ESG strategy and we are thrilled that she will be leading on its execution over the coming years. We have made great strides in integrating ESG considerations across our business but recognise that we, and the industry as a whole, have a long way to go. I look forward to working closely with Natali to further develop our sustainability credentials.” Natali Cooper added: “The logistics sector’s stratospheric growth and increasingly important role in the global economy has already placed the industry in the spotlight. It is essential for the long-term success of our business that we take meaningful action to reduce our carbon footprint and create a blueprint for integrating these buildings into communities. This is both a moral and commercial imperative. The whole team is committed to delivering on our ambitious strategy and I look forward to implementing it in the years to come.”

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GLP Europe Raises €1.1 billion for First Close of GLP Europe Income Partners II

Fund seeded with 1.9 million sqm of prime European logistics real estate assets GLP’s second pan-European income logistics fund closed within 30 days of GLP JIF, Japan’s largest private open-ended logistics real estate income fund GLP announced today the first close of its newly established pan-European logistics fund, GLP Europe Income Partners II (“GLP EIP II”), with €1.1 billion of equity commitments. The investors in GLP EIP II comprise both new and existing global institutional investor partners. GLP EIP II is seeded with a prime pan-European logistics real estate portfolio of income-producing assets, largely sourced off-market, and totalling 1.9 million sqm across 25 established logistics locations in nine countries. With an average age of less than five years, the seed assets have superior specifications and benefit from a weighted average unexpired lease term of nearly seven years. The portfolio has performed exceptionally well throughout 2020, with nearly 100,000 sqm of new leasing growing occupancy to over 97 percent. GLP EIP II will continue to acquire logistics assets across Europe’s prime locations while delivering superior risk-adjusted returns for investors. Ralf Wessel, GLP managing director, fund management, said: “Since entering the European market in 2017, GLP has tripled its assets under management and strategically expanded its presence to meet investor demand and support its disciplined growth strategy. In 2020, GLP added close to US$9 billion across our logistics strategies globally, signifying strong investor confidence in our investment and operating expertise.” Nick Cook, president of GLP Europe, said: “GLP Europe Income Partners II demonstrates the continuing strength of the European logistics market driven by consumption, e-commerce and supply chain modernization. Over the past two years, our experienced on-the-ground team has executed more than 20 off-market transactions to create a truly pan-European logistics platform and support our disciplined growth strategy.” In Europe, GLP is one of the longest-standing fully-integrated logistics investors, developers and operators and manages €9 billion (US$10 billion) of AUM across Europe’s strongest logistics markets. GLP EIP II is the company’s fourth Europe-focused investment vehicle and follows US$2.6 billion GLP Japan Income Fund (“GLP JIF”), Japan’s largest private open-ended logistics real estate income fund, which was launched in August 2020. About GLP GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Our combined investing and operating expertise allows us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, and the U.S. and have US$89 billion in assets under management in real estate and private equity funds. Learn more at glprop.com.

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GLP ANNOUNCES COMPLETION OF FIRST EVER DEVELOPMENT VERIFIED AS NET ZERO CARBON FOR CONSTRUCTION IN LINE WITH THE UKGBC FRAMEWORK

GLP, investor and developer of logistics warehouses and distribution parks, today announces that it has delivered the first net zero carbon development to be officially verified as Net Zero carbon for construction in line with the UKGBC Net Zero Carbon Buildings Framework Definition. The development, known as Magnitude 313, was developed at GLP’s flagship logistics park Magna Park Milton Keynes. It is GLP’s 6th building to go through the Planet Mark accreditation scheme and part of its strategy to reduce the carbon footprint further. Whilst GLP’s building specifications are continually reviewed, the project team conducted a deeper assessment on Magnitude in order to maximise the efficiency and sustainability credentials of the materials, resulting in significantly lower levels of embodied carbon. Key manufacturers were asked to provide a complete breakdown of their products along with their origin, embodied carbon and whether the product can be reused or recycled. Chetwoods Thrive and Circular Ecology, along with other leaders in the field were engaged to help the design team and wider supply chain collaborate and reduce as much embodied carbon as possible. Magnitude has been used as a vehicle for innovation, using embodied carbon reduction as a key driver for finding techno-economically feasible solutions. Where possible the outcomes have been incorporated in Magnitude. GLP can attest to the fact that they have reduced the embodied carbon as much as possible at this time. Further solutions will be carried forward to improve future buildings, providing a longer-term legacy. Steven Alexander, UK Construction Director at GLP Europe, said: “Magnitude is a milestone development for GLP and the logistics industry. It paves the way for further net zero carbon development as we continue our strategy of reducing our carbon footprint, keeping sustainability at the forefront of both the design and construction processes. We are proud to have developed the world’s first building to be verified as net zero carbon for construction and look forward to continuing our sustainability journey.” Nick Cook, President, GLP Europe, said: “This is a landmark development for GLP and we hope that it will set a new standard for sustainability in the sector. The team is constantly striving to find innovative ways to improve the carbon footprint of our buildings and ensure that GLP is considered synonymous with sustainable development.” Julie Hirigoyen, Chief Executive at UKGBC, said: “The urgency of the climate crisis means it is vital that we address all carbon impacts from buildings including the upfront embodied carbon from products, materials and construction. In some cases these can account for up to half of a new building’s lifetime carbon impacts – before it has even been occupied. We are delighted to see GLP leading the way by becoming the first developer to achieve net zero carbon for construction using UKGBC’s Framework. We hope that this will act as an example to the rest of the industry and inspire others to go even further in reducing the impacts from construction.”

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Gazeley to Adopt GLP Brand in Europe

GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager in 2017. In addition, GLP announces that it has closed on the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. GLP currently has US$7 billion of assets under management across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this unique, high-quality portfolio spread across Poland, Czech Republic, Slovakia and Hungary expands GLP’s European presence to 11 countries placing it within a select number of logistics real estate investors with a truly pan-European platform. Nick Cook, President, GLP Europe, said: “Since entering the market in 2017, 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 acquired portfolio is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It will bring a number of new customers into the business and allow it to better support existing customers with their expanding supply chain requirements across Europe. To support the acquired portfolio and the Company’s growth in the region, Goodman Group’s Central and Eastern European local teams will join GLP’s European business. Over the last 30 years, Gazeley has built a strong reputation as one of the leading investors and developers of logistics warehouses across Europe. Initially starting as a merchant developer as part of Walmart, the business has expanded its presence across the UK and subsequently Europe under several ownership structures. Since GLP acquired Gazeley in 2017 to enter the European logistics real estate market, the European business has doubled in size from an AUM, geographic footprint and people perspective, strengthening the team with several significant and strategic hires along the journey. By fully embracing what it means to be GLP, the business is uniquely placed to stay ahead of the market by opening up new opportunities, smarter innovations and accessing a larger global network. While the change will bring a number of benefits, it won’t change the values or how the company operates. The goal is to enhance its offer, simplify its communications and deepen the relationships that have been built. Nick Cook, President, GLP Europe, said: “Since we became part of GLP in 2017, we have experienced unprecedented growth not only in our existing markets, but we entered six new countries. Adopting the GLP name is a natural evolution for the business as we look to continue this expansion. GLP’s name is synonymous with forward-thinking, technology-led logistics real estate and this change reflects our commitment to using that expertise combined with our local market knowledge to enhance our offering in Europe. We are better together, and stronger than ever” “We also look forward to welcoming our new colleagues to the team who will be critical in helping us expand our reach in Europe and beyond. The completion of this transaction is symbolic of our recent growth and ambitions for the next period. I’m proud to have been part of Gazeley journey and look forward to taking the business forward in its next chapter as GLP.” Kirkland & Ellis served as legal counsel to GLP, with Greenberg Traurig and Kinstellar providing local legal advice. Cushman & Wakefield served as advisors to GLP and Goldman Sachs and Citi have committed to finance the acquisition.

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