Allianz Real Estate and Antwerp-based pan-European industrial parks developer VGP’s second joint venture has completed €232m worth of logistics acquisitions.
The companies said the 50:50 VGP European Logistics 2 joint venture has bought nine logistics buildings in Germany and four logistics buildings in the Czech Republic.
The 13 assets include 7 buildings in 3 new VGP parks and another 6 newly completed logistic buildings which were developed in parks previously transferred to the joint venture.
In July this year, the duo expanded their strategic partnership with the formation VGP European Logistics 2, a €1.7bn partnership which targets core logistics assets.
The VGP European Logistics 2 partnership followed the first vehicle - VGP European Logistics - which launched in March 2016.