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Friday, 15 September 2017

VGP NV: Successful completion of the sale of VGP Park Nehatu (Estonia)

VGP NV    

Published: 07:00 CEST 15-09-2017 /GlobeNewswire /Source: VGP NV / : VGP /ISIN: BE0003878957

VGP NV: Successful completion of the sale of VGP Park Nehatu (Estonia)

Press Release

Regulated Information

 

 

 

Diegem, 15 September 2017 at 7:00 a.m. CET.  

Successful completion of the sale of VGP Park Nehatu (Estonia)

 VGP has successfully completed the sale its VGP Park Nehatu located in Tallinn (Estonia) to East Capital Baltic Property fund III, a fund managed by East Capital.

The transaction covers a total of 5 modern logistics buildings with a total of more than 77,000 m2 of lettable area.  The net proceeds of the transaction are circa € 34.5 million.

Jan Van Geet, CEO of VGP, said:

"We are pleased the have concluded this transaction with East Capital which leaves our Estonian tenants in good hands for the future. The net proceeds will be re-applied towards the further expansion of our development activities in our more core markets i.e. Germany, Eastern Europe and Spain, which are continuing to record solid growth."

 

For more information

Mr Jan Van Geet

Mr Dirk Stoop 

CEO

CFO

Tel. + 420 602 404 790

Tel.+32 2 719 00 45

E-mail: jan.van.geet@vgpparks.eu

E-mail: dirk.stoop@vgpparks.eu

 

Profile

VGP (www.vgpparks.eu) constructs and develops high-end logistic real estate and ancillary offices for its own account and for the account of its VGP European Logistics joint venture (50:50 joint venture between Allianz Real Estate and VGP), which are subsequently rented out to reputable clients on long term lease contracts. VGP has an in-house team which manages all activities of the fully integrated business model: from identification and acquisition of land, to the conceptualisation and design of the project, the supervision of the construction works, contracts with potential tenants and the facility management.

VGP is quoted on Euronext Brussels and the Main Market of the Prague Stock Exchange.



VGP_Press_Release_EN_15.09.17



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: VGP NV, Greenland Burgemeester E. 5, Brussels BE-1090, Belgium
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