VGP NV Press Release
Regulated Information
Diegem, 15 September 2017 at 7:00 a.m. CET.
Successful completion of the sale of VGP Park Nehatu (Estonia)
VGP has successfully completed the sale its VGP Park Nehatu located in Tallinn (Estonia) to East Capital Baltic Property fund III, a fund managed by East Capital.
The transaction covers a total of 5 modern logistics buildings with a total of more than 77,000 m2 of lettable area. The net proceeds of the transaction are circa € 34.5 million.
Jan Van Geet, CEO of VGP, said:
"We are pleased the have concluded this transaction with East Capital which leaves our Estonian tenants in good hands for the future. The net proceeds will be re-applied towards the further expansion of our development activities in our more core markets i.e. Germany, Eastern Europe and Spain, which are continuing to record solid growth."
For more information
| Mr Jan Van Geet | Mr Dirk Stoop |
| CEO | CFO |
| Tel. + 420 602 404 790 | Tel.+32 2 719 00 45 |
| E-mail: jan.van.geet@vgpparks.eu | E-mail: dirk.stoop@vgpparks.eu |
Profile
VGP (www.vgpparks.eu) constructs and develops high-end logistic real estate and ancillary offices for its own account and for the account of its VGP European Logistics joint venture (50:50 joint venture between Allianz Real Estate and VGP), which are subsequently rented out to reputable clients on long term lease contracts. VGP has an in-house team which manages all activities of the fully integrated business model: from identification and acquisition of land, to the conceptualisation and design of the project, the supervision of the construction works, contracts with potential tenants and the facility management.
VGP is quoted on Euronext Brussels and the Main Market of the Prague Stock Exchange.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VGP NV via Globenewswire
