The fund will invest in sectors that complement GLP's real estate business, according to CEO Ming Mei.

The industrial supply shortage is a major issue for tenants, but for owners-users looking to buy a property, it is nearly nonexistent.

“The outside capital is really helping to push local investors understand the value of the real estate and the opportunity that exists, and they are stepping in.”

The largest transaction thus far for Fund II is a $40-million first priority mortgage for the redevelopment of the former Highland Park Mill, a 150,000-square-foot mixed-use property in Charlotte, NC.