PRESS RELEASE
Regulated Information
The four buildings are located in
The transaction value is in excess of € 68.2 million2. The gross proceeds from this transaction amounts to circa € 51.8 million.
The proceeds will be applied towards the further expansion of the development pipeline i.e. acquisition of new development land and financing of existing projects under construction and new projects which will be started-up shortly.
Following the completion of this eighth closing of the First Joint Venture, the First Joint Venture’s property portfolio consist of 95 completed buildings representing around 1,780,000 m² of lettable area, with a 99.5% occupancy rate.
As with this eighth closing the First Joint Venture has reached its expanded investment target, this was the last closing with the First Joint Venture to include new parks. Advanced discussion between VGP and
For
For VGP the increase in the joint ventures’ portfolio should have a further positive impact on the fee income generated by the asset-, property-, and development management services rendered by VGP to the Joint Ventures.
CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES
Martijn Vlutters VGP – Investor Relations | Tel: +32 (0)3 289 1433 |
Petra Vanclova VGP – | Tel: +42 0 602 262 107 |
Tel: +49 152 288 10363 |
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities. VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.
ABOUT VGP
VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or committed) of 8.54 million m² and the strategic focus is on the development of business parks. Founded in 1998 as aBelgian family-owned real estate developer in the
For more information, please visit: http://www.vgpparks.eu
1 VGP and
2 The transaction value is composed of the purchase price for the completed income generating buildings and the net book value of the development pipeline which is transferred as part of a closing but not yet paid for by the First Joint Venture.
Attachment
- Eighth closing VGP European Logistics JV - EN
© OMX, source