GLP Capital Partners (GCP), a global leader in alternative asset management, has concluded the sale of 13 logistics warehouses from its portfolio in Brazil for a total value of R$1.77 billion to BTG Pactual Logística FII (BTLG11), managed by BTG Gestora.
This is the largest transaction of logistics assets in the history of Real Estate Investment Funds (FII), according to data from real estate consultancy SiiLA.
GCP continues with its successful monetization strategy aimed at recycling capital for its investors. In the last four years, the company has led negotiations totaling over R$ 6 billion in assets sold.
The 13 real estate assets total 542,000 square meters of gross leasable area (GLA), and the properties are mostly located within a 60 km radius of São Paulo city, as well as in the states of Pernambuco and Rio de Janeiro.
"We are committed to generating value for our investors by optimizing returns through capital recycling. The sale of these assets demonstrates the quality of our investment platform and our ability to acquire, manage, and create value in the asset portfolio," says Mauro Dias, president of GLP Capital Partners in Brazil.
“Our capital recycling plan is aligned with the objectives of our investors and we have a track record of growth that has already been leading the Brazilian market for years. We are following our investment plans, which have already totaled approximately R$16 billion since the beginning of our operations in the country,” adds Ricardo Antoneli, Investment Director at GLP Capital Partners in Brazil.
