GLP currently manages assets worth seven billion US dollars in the UK, Germany, France, Spain, Italy, Poland and the Netherlands. With the addition of the Goodman Group portfolio in Poland, the Czech Republic, Slovakia and Hungary, GLP is expanding its European presence to eleven countries.

"Since entering the European market in 2017, GLP has strategically expanded its presence in selected markets in Europe to meet the needs of its investors and realize a consistent growth strategy," says Nick Cook, President, GLP Europe. "We believe that an attractive macroeconomic environment, urbanization, e-commerce growth and proximity to key European distribution hubs are among the driving forces behind the Central and Eastern European logistics real estate market," explains Cook.

The acquired portfolio is located on important logistics routes in the region and offers access to growth markets for e-commerce and distribution. A number of new customers will be added and existing customers with growing supply chain requirements can be better supported across Europe. Goodman Group's Central and Eastern European country teams are strengthening GLP to support the new portfolio and the company's European business growth.

Over the past 30 years, Gazeley has built a reputation as an investor and developer of European logistics real estate. After starting as a real estate developer for retail space within Walmart, the company developed its market presence in the UK and then in mainland Europe under various ownership structures. In 2017, GLP entered the European logistics real estate market through the Gazeley acquisition. Since then, the business has doubled in terms of assets under management, geographic footprint and headcount. The team has been significantly strengthened by several strategic hires.

"Since we became part of GLP in 2017, we have seen extraordinary growth in our traditional markets. We have also entered six new markets," says Cook. "Our new company name under the GLP brand is a logical development as we plan to continue our growth. The name GLP stands for future-oriented, technology-driven logistics real estate. We are expressing this change by combining this expertise with our local market experience and thus expanding our offering in Europe. Together we are even better and stronger than before," explains Cook.

"We also welcome our new team colleagues. They will play a key role in the further expansion of our European presence and beyond. The completion of this transaction is symbolic of our current growth and our future goals. I am proud to have been part of the Gazeley journey and look forward to taking the company to the next level as GLP," said Cook.

Kirkland & Ellis acted as legal advisor to GLP on the acquisition of the CEE portfolio, while Greenberg Traurig and Kinstellar provided local legal advice. Cushman & Wakefield acted as advisor to GLP. Goldman Sachs and Citi financed the acquisition.