VGP and Deka Immobilien Announce € 1.1 Billion Logistics Portfolio Joint Venture

PRESS RELEASE Regulated Information – Inside information

Antwerp, Belgium 24 July 2023 (7.00 a.m. CET)

VGP NV ('VGP') and Deka Immobilien, one of the largest globally active real estate investment companies in Europe, today announced the set up of a 50:50 joint venture, which is set to acquire over time a defined portfolio of 5 Parks with 20 buildings of German semi-industrial and logistics assets developed by VGP.

The total value of the joint venture is €1.1 billion which will be accomplished through a number of closings and with a first closing anticipated to materialize in Q3 2023.

Dr. Malte-Maria Münchow, head of acquisitions and sales (Logistics, Hotel, Retail) of Deka, said: “We are very pleased with the setup of this partnership in the German logistics market. This is our first European real estate joint venture and it reflects our groups’ shared ambition to create a stable and long-term portfolio of prime semi-industrial and logistics assets. This joint venture, the largest European logistics transaction of 2023 so far, is expected to contribute substantially to our European portfolio and fits within our aim to continue our growth as a real estate manager using an approach that focuses on quality and contributes to our sustainable business strategy – in economic, environmental and social terms.”

Jan Van Geet, CEO of VGP, said: “With DEKA, one of the leading European real estate investors, we have found a partner with a shared vision, focusing on creating sustainable value. Our joint venture marks an important milestone in our strategy to further diversify our cash recycling model and it speaks for the quality of our platform that we have been able to come to this partnership notwithstanding the adverse investment market conditions. We will share further details with our H1 update, but we are well on track to deliver on our targets for 2023 and beyond.”

The joint venture will form an addition to VGP’s group of existing joint ventures and will be operated in a similar way, in which VGP  will continue to be the asset-, property-, and development manager of the assets.


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Forward-looking statements:  This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release considering new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities. VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.


VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. Founded in 1998 as a Belgian family-owned real estate developer in the Czech Republic, VGP with a staff of circa 383 FTE’s today is active in 17 European countries directly and through several 50:50 joint ventures. As of December 2022, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to € 6.44 billion and the company had a Net Asset Value (EPRA NTA) of € 2.30 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957). For more information please visit:


  • VGP Deka 24 Juli 2023 - Press release ENG
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