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GLP co-investor commits US$32M to its new US fund

A Global Logistic Properties Ltd. co-investor made an initial contribution of roughly US$32.0 million to Harvest Logistics Holdings LP, a fund established to hold GLP's newly acquired US$1.1 billion logistics portfolio in the U.S.

The capital injection is equivalent to 9.7% of the aggregate capital contributions made to the fund. GLP committed US$620 million in equity to the fund through its indirect wholly-owned subsidiary New Harvest Holdings LLC, which was created as an investment vehicle for the acquisition deal signed in September.

Following the deal, New Harvest's full interest in the fund has now been reduced to approximately 90.3%.