CBRE Global Investors and LOGOS Property Pty. Ltd. secured 5.5 billion yuan in equity commitments upon the final close of their China logistics fund.
Eight domestic and foreign investors made the commitments to the CBRE Logos China Logistics Club Fund, which will target logistics and industrial properties in major cities across China.
CBRE Global will manage the fund's investments, while Logos will take over responsibility for the management of the fund's acquisitions, development, leasing activities and assets, according to an April 1 news release.
As of April 1, US$1 was equivalent to 7.10 Chinese yuan.