VGP NV announced that, further to the press releases dated July 24 and August 24, 2023, it has closed the seed portfolio transaction with the new joint venture with Deka Immobilien (the Fifth Joint Venture). The transaction has been approved by the antitrust regulatory bodies. The acquisition price for the seed portfolio corresponds to a gross asset value of over EUR 700 million, resulting in a cash recycling for VGP of over EUR 450 million.

A further two closings with the Fifth Joint Venture are set for first quarter 2024 and third quarter 2024, resulting in a total gross asset value of over EUR 1.1 billion to be transferred and cash recycling for VGP of under EUR 700 million for the three transactions combined.