Morrison & Foerster has represented an affiliate of Global Logistic Properties Limited, Asia’s largest provider of modern logistics facilities, in the formation of the world’s largest China-focused logistics infrastructure fund. The fund has been formed for the primary purpose of developing, owning and managing a diversified portfolio of institutional quality logistics facilities within target markets in the People’s Republic of China.
The deal team was led by Eric Piesner, Ken Muller and Marcia Ellis with assistance from real estate, fund formation, corporate and tax lawyers in Morrison & Foerster’s Singapore, Hong Kong, San Francisco and New York offices.
Investors have committed $1.5 billion in equity to the fund, with leverage allowing for an investment capacity of over $3 billion over three years. Six leading global institutions are investing alongside the company, with Global Logistic Properties retaining a 56 percent stake in the fund.
Global Logistic Properties is a longstanding Morrison & Foerster client. The firm previously represented Global Logistic Properties in its $1.6 billion joint venture with China Investment Corporation for the acquisition of 15 logistics properties in Japan. The firm also represented Global Logistic Properties in its $1.4 billion joint ventures with Canada Pension Plan Investment Board, China Investment Corporation and the Government of Singapore Investment Corporation for the acquisition of 40 logistics properties in Brazil. This market-leading Brazil transaction was honored at the 2012 Global PERE Awards as Global Deal of the Year.
