Closed-end real estate investment fund Warehouses De Pauw (WDP) has reached agreement with Van Maercke Immo France on the joint realisation of two new projects in Northern France. The deal will double WDP's total portfolio in the country to 140,000 m[sup]2[/sup]. WDP will invest a combined EUR 35 mln in the projects, which are located in Lille.
Closed-end real estate investment fund Warehouses De Pauw (WDP) has reached agreement with Van Maercke Immo France on the joint realisation of two new projects in Northern France. The deal will double WDP's total portfolio in the country to 140,000 m2. WDP will invest a combined EUR 35 mln in the projects, which are located in Lille.
Construction on both sites will be completed in the second quarter of 2008. The initial gross return on the investment will amount to 8.33%. WDP's investment programme for 2007-2008 amounts to almost EUR 100 mln and 217,000 m2, the company said. WDP has a portfolio of semi-industrial and logistics buildings in Belgium, the Netherlands, France and the Czech Republic. The company is listed on Euronext Brussels and has a market capitalisation of about EUR 450 mln.
