"Following our first JV closing earlier this year, we are thrilled to maintain our deployment pace in what we see as a highly attractive market segment with strong fundamentals. We are particularly excited to expand the JV's presence into France and, through this, say ’bonjour’ to Rouen. This marks a significant step in our growth journey", says Erik Vikbladh, CIO and partner at Areim.

The joint venture, focusing on investments in prime logistics in Europe, targets EUR 1.5 billion in gross asset value and will invest mainly in Germany and France, but also in the Czech Republic, Slovakia, and Hungary. The portfolio will consist of sustainable logistics assets in strategic locations with VGP acting as asset and property manager.

With this acquisition, the joint venture portfolio will consist of 21 fully let properties with a lettable area of approximately 564,000 square metres.

Areim’s share of the JV is backed by Areim Pan-European Logistics Fund which the manager raised in December 2023 with committed capital of EUR 500 million.