The Goodman European Logistics Fund (GELF) has closed the sale of 19 logistics properties in France and Germany, known as the Project Shine. The assets have been acquired by Logicor, Blackstone’s European logistics platform. The 479,000 sqm logistics portfolio comprises ten assets in France and nine assets in Germany.
“The sale is part of our strategy of selectively rotating assets within the GELF portfolio and recycling the capital to new prime properties from Goodman’s active development pipeline, as well as to selected market acquisitions,” said Emmanuel Van der Stichele, GELF Fund Manager. “With €2.2 billion of high quality assets under management in key logistics locations throughout Continental Europe, GELF is a leading European logistics real estate fund. The sale as well as the reinvestment of the proceeds will enable the fund to further strengthen an already qualitative portfolio.”
– Ends –
For further information, please contact:
Christopher Flores, Communications Manager
+32 2 451 42 08
About Goodman European Partnership (GEP)
GEP (legal name: Goodman European Logistics Fund, FCP-FIS) is a €2.3 billion pan-European partnership with a portfolio of 100 assets in 11 countries and boasts strong performance metrics as demonstrated by a 97.9% occupancy rate and a portfolio weighted average lease expiry (WALE) to first break of 4.8 years (as per 30 September 2015).
Goodman is an integrated property group that owns, develops and manages logistics and business space across Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil. The Group invests in industrial estates and warehouse and distribution centres.
Goodman also offers a range of listed and unlisted property partnerships, giving investors access to a range of specialist services and property assets, and is working continually to build value in industrial property and
investment management, with innovative new developments, and business and investment offerings.
With total assets under management of €20.9 billion and over 400 properties under management, Goodman is the largest industrial listed property group on the Australian Stock Exchange, and one of the largest listed specialist real estate investment managers globally. Its market insight and dedicated local teams create sound investment opportunities and develop properties and environments that meet each client’s individual requirements.
With more than 1,100 staff in 16 countries and 32 offices, Goodman has the global reach to meet customers’ needs as their businesses expand or evolve. In Europe, Goodman is active in Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Poland, the Czech Republic, Hungary, Slovakia, Sweden and the UK.
For more information please visit: www.goodman.com or www.GELF.eu