JLL advises VGP on its €500 million joint venture with Allianz Real Estate – EuropaProperty

JLL has advised VGP, the European logistics real estate developer, on its €500 million joint venture with Allianz Real Estate. JLL supported VGP in the creation of the JV and the search for an appropriate equity partner to secure a platform aimed at continued growth across target European countries, including Germany, Czech Republic, Slovakia and Hungary. It is one of the largest specialist logistics and industrial real estate deals of its type in Europe.

“This transaction highlights the continued demand for high quality, well located logistics assets across Europe and the desire to find a best-in-class partner to work alongside. Investment volumes for European logistics real estate reached €21.5 billion in 2015, in line with the record volumes of the previous year, and we expect appetite for logistics product to continue this year. The market is supported by unprecedented levels of occupier demand – over 17 million sqm take up in 2015, a 15 percent increase year-on-year – and historically low vacancy rates,” said Tom Waite, director, JLL logistics capital markets.