VGP has successfully completed the sale its VGP Park Nehatu located in Tallinn (Estonia) to East Capital Baltic Property fund III, a fund managed by East Capital.
The transaction covers a total of 5 modern logistics buildings with a total of more than 77,000 m2 of lettable area. The net proceeds of the transaction are circa € 34.5 million.
Jan Van Geet, CEO of VGP, said: “We are pleased the have concluded this transaction with East Capital which leaves our Estonian tenants in good hands for the future. The net proceeds will be re-applied towards the further expansion of our development activities in our more core markets i.e. Germany, Eastern Europe and Spain, which are continuing to record solid growth.”
