Brief: VGP And Deka Immobilien Complete Second Closing In 'Red' Joint Venture

VGP NV

16/04/2024 06:08

April 16 (Reuters) - VGP NV  VGP1.BR :
    * VGP AND DEKA IMMOBILIEN COMPLETE SECOND CLOSING IN 50:50
‘RED’
JOINT VENTURE
    * THE THIRD AND FINAL CLOSING FOR THIS JOINT VENTURE IS
FORESEEN
IN THE SECOND HALF OF 2024
    * THIS TRANSACTION CONSISTS OF EUR 281 MILLION OF GROSS
ASSET
VALUE AND WITH TRANSACTION VGP WILL GENERATE EUR 203 MILLION IN
NET CASH PROCEEDS
    * AT TIME OF FIRST CLOSING THESE ASSETS WERE STILL UNDER
CONSTRUCTION
    * FOLLOWING COMPLETION OF THIS SECOND CLOSING, RED JOINT
VENTURE'S
PROPERTY PORTFOLIO WILL CONSIST OF 19 COMPLETED BUILDINGS
REPRESENTING AROUND 785,000 M² OF LETTABLE AREA AND HAS A 100%
OCCUPANCY RATE
    * TWO BUILDINGS ARE LOCATED IN VGP PARK GIESSEN AM ALTEN
FLUGHAFEN
AND VGP PARK BERLIN - OBERKRÄMER
    * CLOSING WILL CONTAIN ONE BUILDING WHICH IS CURRENTLY UNDER
CONSTRUCTION
    * UPON THIS THIRD TRANSACTION RED JOINT VENTURE WILL BE
FULLY
INVESTED

Source text for Workspace:  ID:nGNE7bxRMz 
Further company coverage:  VGP1.BR 

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