Goodman sells warehouses for one billion euros and leaves Central and Eastern Europe
Implementing a strategy focused on major urban centers and the largest markets in Europe, Goodman European Partnership (“GEP”) and Goodman Group have signed an agreement to sell their assets located in Central and Eastern Europe. They were acquired by GLP Group for approximately 1 billion euros (1.7 billion Australian dollars). The transaction includes properties located in Poland, the Czech Republic, Slovakia, and Hungary.
“We will use the proceeds from this transaction to develop our business in Germany, France, Spain, Italy, and the Benelux countries, where we are seeing strong demand for industrial real estate, alongside high barriers to entry and low land supply.”– said Philippe Van der Beken, CEO of Goodman Continental Europe
In June 2020, the total value of assets managed by Goodman Group will exceed 28.8 billion euros (50 billion Australian dollars) – the company remains one of the largest industrial real estate developers in Europe and the world.
The finalization of the transaction is subject to regulatory approval.
