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.
Name of the deal GLP’s acquisition of the CEE’s logistics portfolio for EUR 1 billion.
Information about the transaction project/projects/portfolio 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.
The date of closing the deal 9 July 2020
Value of the transaction (in EUR) EUR 1 billion
Yield to many different values
Seller, plus brief information about the company Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Continental Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist investment managers of industrial property and business space globally.


Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant investment management platform ensure it creates innovative property solutions that meet the individual requirements of its customers while seeking to deliver long-term returns for investors.
Consultancy which advised Seller Allen & Overy
Purchaser, plus brief information about the company GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Its combined investing and operating expertise allows the Company to create value for customers and investors. GLP operates across Brazil, China, Europe, India, Japan, and the U.S. and has USD 89 billion in assets under management in real estate and private equity funds.

In Europe, GLP has a proven track record of delivering 9 million sq m of warehouse space. Its current operating portfolio consists of more than 3.9 million sq m across strategic markets and is characterised by prime big-box assets developed to industry-leading specifications and occupied by a diverse customer community. GLP also manages three funds in Europe totalling more than EUR 6 billion AUM.

From its existing land bank, GLP has the ability to develop a further 4 million sq m of new space in assets located in key European gateway and population centres.
Consultancy which advised Purchaser Cushman & Wakefield, Kirkland & Ellis, Greenberg Traurig, Kinstellar
Financing institution Goldman Sachs, Citi
Current occupancy level 95% (average for the CEE portfolio)
Please say why this deal should be considered for the award The EUR 1 billion acquisition of Goodman Group’s CEE portfolio by GLP was one of the largest portfolio transactions in the region in 2020. Completed during the pandemic, the transaction re-established GLP as one of the leading and most trustworthy international investors in Europe and was a testament to the superior quality of the projects acquired by GLP in Poland, the Czech Republic, Slovakia and Hungary. It also proved that the projects are perfectly tailored to suit the needs of local and international clients, which is currently one of the main challenges faced by logistics real property investors. The properties acquired by GLP are situated along key transport routes, ensuring easy access to growing distribution and e-commerce markets and offering a convenient solution for clients seeking opportunities for growth in Central and Eastern Europe. In addition, existing Goodman employees in each of the four countries joined the GLP team, reinforcing its in-house talent pool in a hig
Name of the deal
GLP’s acquisition of the CEE’s logistics portfolio for EUR 1 billion.
Information about the transaction project/projects/portfolio
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.
The date of closing the deal
9 July 2020
Value of the transaction (in EUR)
EUR 1 billion
Yield
to many different values
Seller, plus brief information about the company
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Continental Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist investment managers of industrial property and business space globally.


Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant investment management platform ensure it creates innovative property solutions that meet the individual requirements of its customers while seeking to deliver long-term returns for investors.
Consultancy which advised Seller
Allen & Overy
Purchaser, plus brief information about the company
GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Its combined investing and operating expertise allows the Company to create value for customers and investors. GLP operates across Brazil, China, Europe, India, Japan, and the U.S. and has USD 89 billion in assets under management in real estate and private equity funds.

In Europe, GLP has a proven track record of delivering 9 million sq m of warehouse space. Its current operating portfolio consists of more than 3.9 million sq m across strategic markets and is characterised by prime big-box assets developed to industry-leading specifications and occupied by a diverse customer community. GLP also manages three funds in Europe totalling more than EUR 6 billion AUM.

From its existing land bank, GLP has the ability to develop a further 4 million sq m of new space in assets located in key European gateway and population centres.
Consultancy which advised Purchaser
Cushman & Wakefield, Kirkland & Ellis, Greenberg Traurig, Kinstellar
Financing institution
Goldman Sachs, Citi
Current occupancy level
95% (average for the CEE portfolio)
Please say why this deal should be considered for the award
The EUR 1 billion acquisition of Goodman Group’s CEE portfolio by GLP was one of the largest portfolio transactions in the region in 2020. Completed during the pandemic, the transaction re-established GLP as one of the leading and most trustworthy international investors in Europe and was a testament to the superior quality of the projects acquired by GLP in Poland, the Czech Republic, Slovakia and Hungary. It also proved that the projects are perfectly tailored to suit the needs of local and international clients, which is currently one of the main challenges faced by logistics real property investors. The properties acquired by GLP are situated along key transport routes, ensuring easy access to growing distribution and e-commerce markets and offering a convenient solution for clients seeking opportunities for growth in Central and Eastern Europe. In addition, existing Goodman employees in each of the four countries joined the GLP team, reinforcing its in-house talent pool in a hig