GLP’s acquisition of the CEE’s logistics portfolio for EUR 1 billion.
In July 2020, GLP closed on the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. The addition of 48 high-quality buildings spread across Poland, the Czech Republic, Slovakia and Hungary, and totalling approx. 1.3 million sq m (plus 1.1 million sq m in the pipeline), has expanded GLP’s European presence to 16 countries, placing it within a select number of logistics real estate investors with a truly pan-European platform.
The acquired CEE portfolio is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It brings a number of new customers into the business and allows it to better support existing customers with their expanding supply chain requirements across Europe.
All GLP projects in Central and Eastern Europe are located within or in the immediate vicinity of capital cities: Warsaw, Prague, Bratislava and Budapest, as well as other major urban hubs such as Gdańsk, Poznań, Wrocław, Brno or Ostrava. These locations ensure excellent access to the international and national transport network and, by extension, to end consumers. In addition, the buildings themselves offer many solutions that make them stand out in a competitive market in terms of functionality, employee well-being and sustainability. These include an above-standard height of the buildings and size of the docking zones; daylighting with additional skylights in the ceiling; advanced lighting control systems, and electronic utility metering. The new buildings can be powered by renewable energy (with an option to install rooftop PV panels) and are provided with EV charging stations while greywater is reused to irrigate vegetation grown around the buildings.
