VGP and Areim complete second closing in joint venture, adding logistics buildings in Europe.

From GlobeNewswire: 2024-12-18 01:00:00

VGP NV and AREIM Pan-European Logistics Fund announce the second closing of their joint venture, SAGA, adding 4 logistics buildings in France, Germany, Czech Republic, and Slovakia. This brings the total investment target to €1.5 billion, with a gross asset value of €120 million and generating €88 million in gross cash proceeds. The SAGA Joint Venture now owns 21 buildings with 564,000 m² of lettable area. VGP, a pan-European logistics property developer, has a Gross Asset Value of €7.4 billion and Net Asset Value of €2.3 billion, operating in 17 European countries.



Read more at GlobeNewswire: VGP and Areim Complete Second Closing in 50:50 ‘Saga’ Joint