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Goodman European Logistics Fund (GELF) portfolio boosted by access to high quality logistics assets

Monday, 25 February 2013

Goodman European Logistics Fund (GELF) has announced the completion of €209 million of new acquisitions in 2012. The Fund also secured 818,000 sqm of leasing activity during the 2012 calendar year, representing approximately 25% of the portfolio’s total lettable

Acquisitions included assets from the Goodman development pipeline as well as a prime 40,000 sqm asset in Bremen, Germany.

Recent Fund highlights include:

  • Acquisition of over 160,000 sqm of logistics warehouse space across four German locations
  • Acquisition of a 32,000 sqm warehouse in Marseille, France
  • Average lease terms to first break of 8.3 years
GELF has the right of first refusal on all properties developed by Goodman Group’s Continental European business, which gives the Fund unique access to Goodman’s diversified high quality pipeline of prime logistics real estate.

In addition, the strategic market acquisition of a prime asset in Bremen highlights GELF’s ability, as a leading European logistics fund, to take advantage of such opportunities.

According to Emmanuel Van der Stichele, GELF Fund Director, access to the Goodman pipeline coupled with the firepower to opportunistically pick up prime logistics real estate on the market is very attractive to investors.

 “GELF’s access to modern prime assets is very attractive to investors. As the sector further matures with specialised operators, we are seeing increased interest from institutional investors attracted by high and stable income returns. Several metrics indicate that the market is at an attractive point in the cycle with sustained occupier demand for prime assets, which are becoming increasingly scarce. E-commerce, for example, is a particularly strong driver of demand for logistics warehouse space ,” he said.

GELF is one of Europe’s largest unlisted specialist logistics funds with a track record of delivering superior portfolio performance and stable income returns. It has a €1.9 billion pan- European portfolio of modern, prime logistics assets.

 “The portfolio continues to perform well and our key metrics have been strengthened over the year with occupancy increasing to 98% and weighted average lease expiry to first break increasing from 4.8 years to 5.0 years,” said Van der Stichele. 

New acquisitions by GELF continue to be managed by Goodman’s in-house team of asset and property management experts. Customers include blue chip companies such as DB Schenker; Kuehne + Nagel; Amazon; DHL and DSV.

For further information, please contact Goodman:

Jeroen Gaudissabois, +32 (0)2 235 01 46
Porter Novellie, +32 (0)495 62 66 77

About Goodman European Logistics Fund (GELF)

GELF is a €1.9 billion pan-European fund which manages a portfolio of 94 assets in 11 countries and boasts unparalleled performance metrics as demonstrated by a 98% occupancy rate and, a portfolio weighted average lease expiry (WALE) to first break of 5.0 years.

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