GLP C-Reit to begin trading on the Shanghai Stock Exchange in late-June 2021

GLP China Real Estate Investment Trust (GLP C-Reit) is expected to start trading on the Shanghai Stock Exchange in late-June 2021, the property investment firm announced on Thursday. (see amendment note)

The Reit's portfolio comprises seven logistics assets valued at 5.3 billion yuan (S$1.1 billion). Located in the core logistics hub areas of Beijing, the Yangtze River Delta, and the Greater Bay Area, the assets have a lease ratio of 98.7 per cent as at December last year, according to GLP C-Reit.

The company is also the sponsor, asset manager and property manager of GLP J-Reit, which listed on the Tokyo Stock Exchange in December 2012. According to Thursday's press statement, GLP J-Reit has a market capitalisation of 703.7 billion yen (S$8.49 billion) as at December 2020.

Last month, GLP sold the world's largest US-dollar green subordinated perpetual offering at US$850 million.

Amendment note: The story has been corrected to note that GLP C-Reit refers to GLP China Real Estate Investment Trust, and not GLP Commercial Real Estate Investment Trust as earlier reported.