Australian real estate group Goodman plans to invest EUR 300 mln in the Turkish logistics sector over the next few years. The first stage of the investment programme is the development of a 140,000 m[sup]2[/sup] logistics center in Izmit, one of the main gateways between Europe and Asia. The investment volume for this project that starts in January is estimated at EUR 50 mln.
Australian real estate group Goodman plans to invest EUR 300 mln in the Turkish logistics sector over the next few years. The first stage of the investment programme is the development of a 140,000 m2 logistics center in Izmit, one of the main gateways between Europe and Asia. The investment volume for this project that starts in January is estimated at EUR 50 mln.
Danny Peeters, CEO European Logistics at Goodman, commented: 'A blossoming economy, rising spending power and the many infrastructure projects in the area make Turkey, particularly in the region around Istanbul, attractive for Goodman'. Noting the role Turkey plays as a logistics staging post between Europe and Asia, Peeters added: 'We have detected a large demand for high-quality logistics that meet international standards. Our integrated service model makes us ideal to meet this need.'
Goodman, which has EUR 23 bn of assets under management, also announced that it had secured a new EUR 500 debt facilityfor a term of five years. The facility was arranged with six banks and will be used to refinance a smaller expiring facility, with the remainder of the funds to be used for general corporate purposes.
The lending banks were Eurohypo, Fortis, HSBC, ING, Lloyds TSB Bank and Royal Bank of Scotland.
