VGP NV ("VGP") and AREIM Pan-European Logistics Fund (D) AB has announced the signing of the initial transaction between VGP and its 50:50 joint venture SAGA ("Sixth Joint Venture''). The transaction includes 17 logistics buildings in 10 VGP parks. The 17 buildings are located in Germany (6 parks, 8 buildings), the Czech Republic (3 parks, 5 buildings) and Slovakia (1 park, 4 buildings). In the Czech Republic, these are VGP Park Prostějov, VGP Park Kladno and VGP Park Vyškov. The transaction with the SAGA joint venture will be the first in a series of transactions which together will reach the pre-agreed investment target of EUR 1.5 billion. The transaction value has been agreed at EUR 437 million gross asset value. VGP is expected to receive gross cash proceeds of approximately EUR 280 million through this transaction. Following the completion of the first transaction of the SAGA joint venture, its real estate portfolio will comprise approximately 450,000 m² of gross lettable area and is 100 % leased.