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GLP US Income Partners III fund gets further syndication of stake as co-investor injects US$26m
ANOTHER committed co-investor pumped in US$26 million cash into GLP US Income Partners III, warehouse provider Global Logistics Properties (GLP) announced on Friday. The fund was established to hold a newly acquired US$1.1 billion logistics portfolio from Dallas-based developer Hillwood.
The further syndication corresponds to approximately 8.1 per cent of the aggregate capital contributions made to the fund.
Following this, the interest of New Harvest Holdings in the fund and its subsidiaries has been reduced from about 90.3 per cent to 82.2 per cent.
New Harvest is GLP's indirect wholly owned subsidiary and a limited partner of the fund.