Brief: Allianz And VGP Expand Relationship With New European Logistics Joint Venture

VGP NV

04/01/2022 07:36

Jan 4 (Reuters) - VGP NV  VGP1.BR :
    * ALLIANZ AND VGP EXPAND RELATIONSHIP WITH NEW EUROPEAN
LOGISTICS
JOINT VENTURE
    * ALLIANZ REAL ESTATE AND VGP ARE TARGETING TO GROW JOINT
VENTURE
TO A GROSS ASSET VALUE OF EUR2.8 BILLION WITHIN FIVE YEARS BY
EXCLUSIVELY ACQUIRING PRIME ASSETS DEVELOPED BY VGP
    * ALLIANZ REAL ESTATE, ACTING ON BEHALF OF SEVERAL ALLIANZ
GROUP
COMPANIES, AND VGP, A EUROPEAN PROVIDER OF HIGH-QUALITY
LOGISTICS AND SEMI-INDUSTRIAL REAL ESTATE, HAVE AGREED TO FORM A
NEW 50/50 JOINT VENTURE
    * VEHICLE, FOURTH SUCH VENTURE BETWEEN ALLIANZ REAL ESTATE
AND VGP
SINCE 2016, WILL DEVELOP A PORTFOLIO OF PRIME LOGISTICS ASSETS
IN GERMANY, CZECH REPUBLIC, HUNGARY AND SLOVAKIA

Source text for Eikon:  ID:nGNE1N8pFZ 
Further company coverage:  VGP1.BR ; ALVG.DE 

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