Allianz Real Estate has earmarked $600 million to GLP funds that will develop and invest in logistics assets with integrated technologies in China and Japan, the firm recently said.
The asset manager for real estate within Allianz Group committed the capital on behalf of several Allianz Group companies and is part of its push to increase its real estate exposure in the Asia Pacific region. GLP is a global investment manager with a real estate fund platform that covers 73 million square meters, the firm said in a statement.
“We continue to believe in the long-term fundamentals of the Asia-Pacific region. Logistics is a core part of our investment strategy and this opportunity will further diversify our portfolio,” said Rushabh Desai, chief executive for Asia-Pacific at Allianz Real Estate.
“Our approach has been to build scalable relationships with best-in-class local operators in each of the markets and we are excited about partnering with GLP, a leading investment manager with deep operational expertise in the logistics sector across the region.”
GLP has $64 billion in assets under management and focuses on real estate and related logistics technologies.
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