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Goodman sells €1B portfolio to invest in Spain and 4 more markets
16 March 2020 | Vanessa Sousa

Goodman Group has just closed the sale of a set of assets located in Eastern and Central Europe for 1 billion euro in order to reinforce its bet on the 5 largest consumer’s markets, which include the Spanish real estate market.

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Philippe Van der Beken, Chief Executive Officer at Goodman Continental Europe, commented in a release that «the proceeds from this transaction will enable us to capitalise on the strong demand for industrial property and continue to scale up in the major consumer markets in Germany, France, Spain, Benelux and Italy. We will continue to focus on owning high-quality properties and building up our significant development pipeline in these markets, where barriers to entry are high and land is scarce».

The transaction – which was carried out by Goodman European Partnership and Goodman Group in line with Goodman's strategy - includes properties located in Poland, Hungary, Czech Republic and Slovakia, and, according to the document, were sold to GLP. The operation will undergo regulatory approval.

Goodman is a global property group dedicated to industrial real estate development and management in 17 countries including logistics and industrial facilities, warehouses and business parks. In June of 2020, the company is on track to surpass 45.4 billion euro of assets under management.