VGP and Allianz joint ventures complete a €424 million logistics portfolio purchase
VGP NV (‘VGP’) and Allianz Real Estate, acting on behalf of several Allianz Group companies, announced two successful closings between VGP and two of their 50:50 joint ventures, VGP European Logistics and VGP European Logistics 2. The two transactions combined comprised of 19 logistic buildings, including 9 buildings in 5 new VGP parks and another 10 newly completed logistic buildings which were developed in parks which were already transferred to one of the joint ventures in a prior closing. The 19 buildings are located in Germany (6), Spain (4), the Czech Republic (3), Netherlands (2), Italy (2), Romania (1) and Slovakia (1). The transaction with VGP European Logistics was the 7th closing between VGP and this joint venture and amounts to a value of €166 million with gross proceeds of €127 million. The closing with VGP European Logistics 2 was the 2nd closing between VGP and this joint venture and amounts to a value of €258 million with gross proceeds…
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