Goodman European Logistics Fund (GELF)

The Goodman European Logistics Fund (GELF)  is a leading unlisted property fund, investing in logistics real estate across Europe. The Fund owns a €2.3 billion portfolio representing 109 properties across 11 countries. The Fund’s assets are located in Austria, Belgium, Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia and Spain. GELF services a diverse portfolio of customers across a range of industries such as third party logistics,  consumer goods, e-commerce, automotive, manufacturing and IT. Major customers include Kuehne + Nagel, Amazon, Schenker, DHL and DSV.

Established in December 2006, GELF provides institutional investors with access to a diversified and actively managed portfolio of prime European logistics assets with a secure earnings profile. It delivers strong stable income returns with potential income growth and capital appreciation. The Fund benefits from a proven track record of strong and superior portfolio performance, resulting in a stable and high income returns (ca. 8%).

The Fund is advised and managed by Goodman, resulting in a pro-active portfolio management by a dedicated in-house property services team. The Fund further benefits from the strong Goodman development pipeline (Goodman was named top European developer three years in a row (2012, 2013 and 2014) by PropertyEU magazine). As a cornerstone investor in the Fund, Goodman is strongly aligned with the Fund’s global investment partners.  The total equity committed to the Fund amounts to c. €1.7 billion.

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Key Stats (as per 31 December 2014)
Total assets € 2.3 billion
Gearing 36.4%
Number of properties 109
Occupancy 97.5%
Weighted Average cap rate 7.2%