VGP and Areim completed the first transaction under the joint venture "SAGA"

VGP and Areim Pan-European Logistics Fund announced the signing of an initial transaction between VGP and its 50:50 joint venture SAGA ("Sixth Joint Venture"). The transaction includes 17 logistics buildings in 10 VGP parks.

17 buildings are located in Germany (6 parks, 8 buildings), the Czech Republic (3 parks, 5 buildings) and Slovakia (1 park, 4 buildings). In Slovakia, these are buildings in VGP Park Bratislava.

The transaction with the SAGA joint venture will be the first in a series of transactions that will together reach a pre-agreed investment target of EUR 1.5 billion. The value of the transaction was agreed at EUR 437 million of gross asset value. VGP is expected to receive gross cash proceeds of approximately EUR 280 million through this transaction.

Upon completion of the first transaction of the SAGA joint venture, its property portfolio will comprise approximately 450,000 m² of gross leasable area and is 100% leased.