Deka Immobilien has secured a 50 per cent stake in a logistics portfolio in Germany with a total value of around EUR 1.12 billion. Deka Immobilien accounts for around EUR 560 million.
The package consists of fully let existing properties built from 2021 onwards and project developments due for completion by 2024 and is spread across five locations in Germany.
The seller of the shares and future joint venture partner with a 50 percent stake in each of the five property companies is the Antwerp-based project developer and portfolio holder VGP N.V., which specialises in logistics properties. The transaction is still subject to approval by the authorities.
The properties in Berlin, Laatzen and Magdeburg are intended for the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa. The properties in Göttingen and Gießen are to be added to the portfolio of the open-ended real estate fund WestInvest InterSelect.
You can now read the press release at the link below