VGP Announces Signing of Joint Venture Closing and Joint Venture Lifetime Extension by 10 Years
December 21 2022 - 12:00PM
VGP Announces Signing of Joint Venture Closing and Joint Venture
Lifetime Extension by 10 Years
FOLLOWS COMPLETION OF MUNICH JOINT
VENTURE EARLIER IN THE MONTH
PRESS RELEASEREGULATED INFORMATION
21 December 2022, 6:00pm, Antwerp,
Belgium: VGP, a European provider of high-quality
logistics and commercial real estate, announces the signing of the
10th closing for the First Joint Venture.
The transaction will comprise of three new
logistic buildings which are located in Germany (one) and in the
Czech Republic (two). The transaction value exceeds € 110 million1.
The closing of the transaction will be effectuated in the course of
January.
VGP and Allianz Real Estate also agreed to
extend the term of the First Joint Venture agreement by 10 years to
2036.
When the First Joint Venture was setup in 2016
it shaped the ambition for a long term-partnership which since
expanded to three active joint ventures between VGP and Allianz
Real Estate. With the extension announcement today the partners
reinforce their cooperation.
With regards to the completion of the Munich
Joint Venture which was announced on the 14th of December, the
Group received the first cash payment of over €70 million earlier
this week.
CONTACT DETAILS VGP FOR INVESTORS AND MEDIA
ENQUIRIES
Martijn VluttersVP – Business Development & Investor
Relations |
Tel: +32 (0)3 289 1433 |
Karen HuybrechtsHead of Marketing |
Tel: +32 (0)3 289 1432 |
ABOUT VGP
VGP is a pan-European owner, manager and
developer 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.
Founded in 1998 as a Belgian family-owned real estate developer in
the Czech Republic, VGP has a staff of circa 380 FTEs today and
operates in 19 European countries directly and through several
50:50 joint ventures. As of June 2022, the Gross Asset Value of
VGP, including the joint ventures at 100%, amounted to € 6.53
billion and the company had a Net Asset Value (EPRA NTA) of € 2.34
billion. VGP is listed on Euronext Brussels. (ISIN:
BE0003878957).
For more information, please visit:
www.vgpparks.eu
1 The transaction value is composed of the purchase price for
the completed income generating buildings
- 20221221 VGP - 10th JV closing EN
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