China Life Acts as Lead Investor in GLP’s US$4.5 Billion U.S. Logistics Portfolio Acquisition

November 04, 2015

Hong Kong - Paul Hastings, a leading global law firm, announced today that the firm advised China Life on its formation of a partnership (the “Partnership”) with Global Logistic Properties (“GLP”) and two additional leading Asian global institutional investors for the acquisition of a Class-A, state-of-the-art U.S. logistics portfolio valued at approximately US$4.5 billion. GLP, listed on the Singapore Stock Exchange, is a leading global provider of modern logistics facilities. The portfolio, which has a total leasable area of approximately 57.9 million square feet across 20 major markets in the U.S., is one of the highest quality industrial portfolios in the country.

China Life, listed in New York, Hong Kong and China, is the largest integrated insurer in China and one of the largest insurers in the world. Subject to regulatory approval and satisfaction of other closing conditions, China Life will be the largest investor in the Partnership. This investment marks China Life’s largest outbound real estate investment so far, and is also its insurance arm’s first real estate investment in the U.S.

Paul Hastings’ global real estate practice continues to play an active role advising on Chinese outbound real estate investments. This transaction is expected to be one of the largest Chinese outbound investments in the logistics sector ever and one of the largest Chinese institutional investor-led co-investments in the U.S. real estate market.

The Paul Hastings team was led by real estate partners David Blumenfeld and Paul Guan and associate Meka Meng, with support from corporate partner Robert Carlson and associate Carolyn Nguyen.
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