WDP and VIB Vermögen aim to jointly expand activities in German regions of Nordrhein-Westfalen, Bremen and Hamburg

WDP and VIB Vermögen have signed a letter of intent to evaluate the joint expansion of their respective logistics portfolios in Germany, in the regions Nordrhein-Westfalen, Bremen and Hamburg. This targeted expansion is complementary to both groups which will be able to offer a broader geographical coverage to their customers by joining forces. In line with the core business, investments will take place mainly through ‘develop and hold’ and selective acquisitions of (semi-)industrial and logistics buildings. The legal structure of the partnership is intended to be based on a 50/50 joint venture.