Allianz and VGP enter new €1.7b European logistics partnership

VGP NV, an Antwerp-based pan-European developer, manager and owner of logistics and semi-industrial real estate assets, and Allianz have expanded their strategic partnership with a new 50-50 joint venture.

“Logistics remains a highly attractive sector, in established markets such as the Netherlands, Spain and Italy but also fast-growth ones such as Romania, and Allianz is focused on selectively building its exposure globally by working with prime partners such as VGP,” said Olivier Téran, CIO of Allianz Real Estate. “We are delighted to be once again working with VGP, an established leader in the European logistics sector and a firm with a proven track record of success and deep understanding of the dynamics shaping the market.”

VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain.

Allianz Real Estate and VGP are targeting to grow the joint venture to a gross as