• WDP Acquires French Logistics Site for €58 Million, Sells Belgian Asset
WOLVERTEM, Belgium – Logistics real estate company WDP has completed the acquisition of a site in the Port of Le Havre, France, for approximately €58 million.
In a parallel transaction, the company also finalized the disposal of a logistics asset in Liège, Belgium, for approximately €35 million.
What is new?
WDP announced it has acquired a fully leased, prime logistics site from AG Real Estate France located within the port of Le Havre. The total investment for the French acquisition is approximately 58 million euros. At the same time, WDP completed the sale of a vacant logistics property in Liège, Belgium, generating total proceeds of approximately 35 million euros.
Le Havre Acquisition Details
The acquired site in Le Havre, France’s main container terminal, spans a 17-hectare plot of land. It includes two Grade A logistics buildings with approximately 65,000 square meters of lettable area and a 40,000-square-meter container yard. The investment is expected to generate a 6.0% Net Operating Income yield.
The BREEAM-certified buildings were developed in 2021 for the current tenant, Seafrigo, an international logistics operator specializing in temperature-controlled transport. The site is fully let to Seafrigo under a fixed triple net lease agreement that runs until the end of 2033.
Parallel Belgian Disposal
In a separate transaction, WDP sold a vacant logistics asset located in Liège, Belgium. The company stated the disposal generated approximately 35 million euros in proceeds, representing a premium to the property’s latest fair value. The sale was attributed to strong interest from end-users for well-located, modern logistics assets.
About this company
WDP is a real estate company specializing in logistics properties. Based on the recent transactions, the company’s portfolio includes assets in France and Belgium. The company’s corporate headquarters is located in Wolvertem, Belgium.
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