GLP has agreed a seven-year €300m (£258m) facility from RBC Real Estate Capital Partners, for its European fund.
The loan, for the GLP Europe Development Partners I fund, will be used to finance the build-out of the fund’s logistics portfolio, which comprises 12 properties located in the UK, Germany and France.
GLP said the loan may also be upsized with additional developments in the fund’s pipeline.
Nick Cook, president and chief executive of Gazeley, GLP’s Europe platform, said: “We continue to focus on delivering our attractive pipeline of development opportunities to provide superior returns to our investors.”
GLP EDP I was set up in December 2017, seeded with land to support 16m sq ft of buildable space. The fund comprises global institutional investors and is expected to reach £2.2bn when fully invested.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
