• Transaction / Assets
    Portfolio of logistics assets
  • Seller
    Goodman
  • Buyer
    GLP
  • € MM
    1000

Goodman Sells a Logistics Portfolio in Eastern Europe to GLP for €1bn

Goodman European Partnership (GEP) and the Goodman Group have signed an agreement to sell a portfolio of assets in Central and Eastern Europe to GLP for around €1 billion (AUD 1.7 billion). The transaction includes properties located in Poland, Hungary, the Czech Republic and Slovakia, according to the Sydney-based firm.

In this way, Goodman is reinforcing its strategy of focusing its portfolio on strategic cities and the main consumer markets in continental Europe. Philippe Van der Beken, CEO of Goodman in Continental Europe, explained that “the income obtained from this sale will allow us to capitalise on the strong demand for logistics assets and to continue to grow in the main markets of Spain, Germany, France, Benelux and Italy. We will continue to focus on high-quality logistics assets and on the development of projects in these markets, where barriers to entry are high and land is scarce.” This transaction is subject to regulatory approval.

 

Original Story:

Translation/Summary: Carmel Drake

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