AG Real Estate carries out a major logistics operation with Prologis
AMSTERDAM (July 1, 2020) – Prologis, Inc., the global leader in logistics real estate, announced today it will acquire six high-quality logistics facilities totaling 157,500 square meters in Belgium’s key logistics markets of Liege, Beersel and Kontich.
The acquisition includes 80,000 square meters of land for the future development of 45,000 square meters of logistics space.
Strengthening Prologis’ footprint
Prologis entered into the transaction with AG Real Estate to accelerate its growth in Belgium. The facilities in Liege, Beersel and Kontich are leased to current Prologis customers.
“Our focus has always been on locations that best serve the needs of our customers, and these facilities, located along one of Europe’s busiest logistics corridors, are highly complementary to our existing portfolio,” said Jack Geurtjens, Director Transactions Northern Europe Prologis. “Demand for high-quality logistics buildings close to consumption centers is rising sharply and this transaction is an important piece of our expansion strategy.”
Said Tatiana Posa, Senior Transaction Manager for AG Real Estate: “As a diversified real estate player, we have, for several years, been determined to create a logistics portfolio in line with our strategy of concentrating our efforts in a dedicated logistics joint venture. This disposition balances out our portfolio and aligns with this strategic approach.”
Prologis was advised by Cushman & Wakefield, PWC and Loyens & Loeff. The seller was advised by Savills/JLL, Linklaters, Aecom and Deloitte.
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking. A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 965 million square feet (90 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.
Contact: Danielle van der Lem | Marketing & Communications Manager NER | +31 (0)6 21113079 | DvanderLem@prologis.com