VGP successfully closes initial transaction of €175 million with second joint venture

31 Jul 2019

VGP NV ('VGP' or 'the Company') today successfully completed the initial closing with VGP European Logistics 2, its second 50/50 joint venture with Allianz Real Estate, as established on 1st of July 2019. The transaction consists of 3 business parks acquired by the joint venture from VGP, including eight prime logistic buildings of which four in the established markets of respectively Spain (3) and Austria (1), and four in the fast-growing market of Romania.

The initial transaction value is € 175 million, which includes some future development pipeline. The gross proceeds from this transaction amounts to circa € 96 million.