China Life Cooperated with GLP to Invest in Core Logistic Properties in USA


On November 4, 2015,China Life Insurance signed an agreement with Global Logistic Properties, aglobal leading logistic properties provider, to jointly purchase Industrial Income Trust (IIT), American high-quality core logistic asset package. Afterthe completion of delivery, China Life became the largest investor in the proportion of asset holdings. The acquisition of the joint venture also included a number of world famous sovereign funds and pension. China Life’sprofessional alternative investment platform—China Life Investment Holding Co., Ltd, led this acquisition to complete.

The underlying assets of this acquisition was about $4.55 billion, total leasable area about 5.4 million square meters, mature and stable operation of the storage properties as main business, with a steady cash flow, spotted in 20cities and markets ranking at the top of American economy, most of which were located in the western and the eastern part of the United States, covering thenation’s most densely populated, with the strongest consumption and the mostvigorous trade, adjacent to highway or railway, near the important seaport orairport, with significant advantage in scale, network and location. Meanwhile,the average year built of asset-package property was new, rental ratesrelatively high, longer remaining lease term, good tenant quality, so the valueof investment was highlighted.    

China Life Investment Holding Co., Ltd.took the principle of “high starting point, standardization and professionalization” in real estate investment business. It had increased overseas real estate investment market in recent years, after last year’sacquisition of London Canary Wharf project, this year it gradually entrusted investment in Boston Wharf project, IIT American logistic asset package and soon. It had initially established China Life overseas real estate investment market brand, and laid a good foundation for further expanding overseashigh-quality alternative asset allocation.