VGP, the Dutch logistics and industrial property company, is selling 11 assets in Spain, the Netherlands and Italy to VGP European Logistics 2, a pre-existing JV with PIMCO Prime Real Estate, which is investing on behalf of several Allianz group companies.
The portfolio includes five buildings in four new VGP parks and another six newly completed logistic buildings which were developed in parks and were already transferred to the joint venture in a prior closing, the parties said.
Gross proceeds from this so-called Aurora IV transaction are €197 mln and VGP hopes for fee income for its management services to be generated.
Source: https://propertyeu.info/Nieuws/VGP-sells-253m-industrial-portfolio-to-JV-with-PIMCO-Prime-Real-Estate/465b3d1c-d527-4989-bdfa-64a5e08cd4ba, on 25 May 2023