CBRE announced today that they have been selected to provide fund and property accounting services for a new U.S.-based Industrial Fund managed by GLP Capital Partners (GCP), one of the largest industrial real estate fund managers in the world.
“We are very excited to expand our relationship with GCP and partner with them as they launch their new Industrial Fund,” said Jason Sheller, CBRE’s Global Head of Business Development and Strategy. “Through this partnership, we are able to deliver a full end-to-end service model and platform from property-to-fund administration for GCP that will provide the data and insights they need to make critical business decisions based on their overall growth strategies.”
“In today’s day-and-age, data is more important than ever,” said Pete Kane, GCP Chief Financial Officer. “We have worked with CBRE’s Fund and Property Administration group for the past year and have found tremendous value in outsourcing to a group that is 100 percent real estate focused that truly understands our business and data needs. We are particularly excited to leverage their full platform for our new fund launch which provides us with the financial and operational data to better scale our business.”
CBRE’s Fund and Property Administration group offers fully integrated real estate design & construction accounting, property accounting and fund administration services to developers, investors and asset managers in more than 40 countries with $140+ billion in assets under administration (fund services only) and over 16,500 properties (property only). The group supports simple to complex fund structures including closed and open-ended funds, public and private REITs, JVs and separate accounts, expanding across all asset classes, along with property and design and construction accounting. Please click here to learn more about CBRE’s Fund and Property Administration group.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About GCP
GLP Capital Partners, and its fully integrated platform, Modlo, is a leading investor and operator of logistics real estate, combining deep, sector-focused investment expertise with a customer focused approach to leasing and asset management. The Company's leadership team has been among the most active investors and operators of logistics real estate in the U.S. over the past five years. Prior to forming the Company, the team, which was previously responsible for the U.S. platform of GLP Pte. Ltd., completed over $30 billion of logistics real estate transactions and operated a national portfolio of nearly 200 million square feet across every major U.S. logistics market. The Company is currently investing out of GLP Capital Partners IV, a closed-end, discretionary private equity fund.
