Report
Joan Sehim

VGP NV : New financing source needed in the absence of disposals

We have changed paradigm. Logistic yields have started to decompress in Q2 2022, after several years of decline. Experts are talking about a potential +100bp widening at least, enough to push asset prices down while - on the other side - costs are at their highest. This does not undermine long-term fundamentals, which are undoubtedly solid, but it does force developers like VGP to lay low for a while. - The postponement of the seed closing of the fourth JV with Allianz, which was ...
Underlying
VGP NV

VGP NV is a Belgium-based real estate development company that constructs and develops industrial real estate and ancillary offices, which are rented out to clients on long term lease contracts. The Company operates in three business segments: the Development activities segment is focused on the identification and acquisition of the land and development of the infrastructure, the design of buildings, the coordination of architectural and engineering aspects, the administration to obtain the necessary permits, the tendering and coordination of the construction works, including site management, and the facility management of the real estate portfolio; the Property Management and Leasing services segment is responsible for managing the operation of the buildings, and the Facilities Management services segment is responsible for managing the operation of the buildings and performs all actions, such as maintenance services, waste management services and maintenance greenery, among others.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Joan Sehim

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