Goodman has said it carried out two significant transactions involving its European logistics platform. The industrial property group sold a 102,020 m[sup]2[/sup] logistics development located at Bad Hersfeld, Germany to Union Investment. The development is scheduled for completion in September 2009 and pre-leased on a 10-year term to one of the world’s leading online retailers. The financial details of the transaction were not disclosed.
Goodman has said it carried out two significant transactions involving its European logistics platform. The industrial property group sold a 102,020 m2 logistics development located at Bad Hersfeld, Germany to Union Investment. The development is scheduled for completion in September 2009 and pre-leased on a 10-year term to one of the world’s leading online retailers. The financial details of the transaction were not disclosed.
Goodman also sold a 26,735 m2 warehouse in France on behalf of Goodman European Logistics Fund (GELF) to AEW Europe for EUR 16 mln. The facility was completed in June 2007 and is currently leased to a French clothing and accessories retailer.
Goodman Group CEO Greg Goodman said: 'These latest European transactions follow the recently announced sale of a 42,700 m2 pre-leased development for Louis Vuitton Moët Hennessy at Récy in France and reflect the strong investor demand for high quality, well located logistics assets, with both transactions completed at approximately book value.'
