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GCP Raises $2.3 Billion for Logistics Real Estate Investments

  • Firm started by former Blackstone, GLP executive Alan Yang
  • Firm sees rising need for e-commerce, supply chain operations
An Amazon employee walks by an Amazon Prime delivery truck in the company's premises in Brandizzo, near Turin, March 22, 2021. - 9,500 warehouse workers and 15,000 drivers of Amazon are on strike for the first time in Italy to claim better working conditions. (Photo by Marco Bertorello / AFP) (Photo by MARCO BERTORELLO/AFP via Getty Images)
An Amazon employee walks by an Amazon Prime delivery truck in the company's premises in Brandizzo, near Turin, March 22, 2021. - 9,500 warehouse workers and 15,000 drivers of Amazon are on strike for the first time in Italy to claim better working conditions. (Photo by Marco Bertorello / AFP) (Photo by MARCO BERTORELLO/AFP via Getty Images)Photographer: MARCO BERTORELLO/AFP

Real estate focused investment firm GCP said it closed a $2.3 billion fund that will be used to buy and operate warehouses tied to logistics and e-commerce.

The fund has already acquired about 25 million square feet of real estate and will will look to buy about 25 million more, GCP Chief Executive Officer Alan Yang said in an interview. Los Angeles-based GCP is aiming to own about 100 properties in the fund.