VGP and Areim Agree on Third Closing in 50:50 ‘SAGA’ Joint Venture
PRESS RELEASE
Regulated Information – Inside information
Antwerp, Belgium 28 November 2025 (7.00 a.m. CET)
VGP NV ('VGP') and AREIM Pan-European Logistics Fund (D) AB, announce an agreement on the third closing between VGP and their 50:50 joint venture, SAGA (The ‘Sixth Joint Venture’). The transaction comprises 17 logistics buildings and a parkhouse in 13 different VGP Parks among which are the first parks in Austria, Spain, Portugal and Italy due to the geographical extension of the joint venture. The transaction is expected to close in December, subject to merger clearance.
The 17 buildings and parkhouse, encompassing 424,000 square meters of lettable area, are located in Spain (2 parks containing 2 buildings), Italy (3 parks containing 4 buildings), Portugal (2 parks containing 3 buildings), Germany (1 park containing 1 building and 1 building in an existing park), Austria (2 parks containing 4 buildings including a parkhouse), the Czech Republic (1 building in an existing park) and Slovakia (an extension of an existing building).
The transaction forms the third closing of a series that will together add up to the pre-agreed investment target of € 1.5 billion. The first two closings of the fund took place in 2024. The pricing of the upcoming third closing has been agreed at a gross asset value of € 509 million. With the transaction VGP will generate circa € 369 million gross cash proceeds.
Following the completion of this third closing of the SAGA Joint Venture its property portfolio consists of 39 completed buildings with a combined surface of ca. 988,000 m² of gross lettable area spread over 8 countries.
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ABOUT VGP
VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial properties as well as a provider of renewable energy solutions. VGP has a fully integrated business model with extensive expertise and many years of experience along the entire value chain. VGP was founded in 1998 as a family-owned Belgian property developer in the Czech Republic and today operates with around 412 full-time employees in 18 European countries directly and through several 50:50 joint ventures. In June 2025, the gross asset value of VGP, including the 100% joint ventures, amounted to € 8.3 billion and the company had a net asset value (EPRA NTA) of € 2.6 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957).
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Forward-looking statements: This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release considering new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities. VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.
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