Allianz Real Estate and real estate developer VGP found joint venture with a volume of over €500 million

Munich/Zele(Belgium) 01/03/2016

Allianz Real Estate and the pan-European real estate group VGP have agreed to found a 50:50 joint venture with an overall transaction volume of over €500 million.

In the joint venture the assets developed by VGP in Germany, Czech-Republic, Slovakia and Hungary will be bundled. The Portfolio is concentrated on logistic and industrial properties. It is planned to be expanded materially over the upcoming years. The joint venture will purchase projects developed by VGP only.

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