AG Real Estate and Groep Heylen set up new joint venture to invest in logistics real estate in Belgium and the Netherlands
15th December 2015
Groep Heylens current holdings in logistics real estate will serve as a basis for the newly- formed AG Heylen Warehouses. The partners will pool their resources and expertise to pursue growth for the joint venture. Real estate development will be outside the scope of AG Heylen Warehouses, as this is Groep Heylens area of expertise. Growth will be achieved by capitalising on Groep Heylens extensive market and product knowledge. In the joint venture, Groep Heylen will be responsible for facility management, while both partners will share administrative tasks.
The new venture will draw on the complementary strengths and expertise of the two companies, creating a whole that is greater than the sum of its parts.
The investment represents AG Real Estates first foray into the Dutch logistics real estate market, highlighting its commitment to diversifying its portfolio and the importance of logistics real estate as an asset class. Via the partnership, the Netherlands will become AG Real Estates third biggest logistics real estate market, just behind France and Belgium.
Groep Heylen also views the strategic partnership as an opportunity to support and accelerate its growth. The objective of the joint venture is to build up a portfolio of assets in the Netherlands and Belgium valued in excess of EUR 500 million. There is still significant growth potential in the logistics gateway to Europe (which includes Belgium and the Netherlands), with much of it to be captured in the Netherlands.
AG Real Estates financial and real estate acumen and Groep Heylens logistics real estate expertise are an unbeatable combination. Both reputed for their forward-looking approach, the two companies are already working together to bring innovative, unexpected concepts to market.
The joint venture will immediately have a portfolio of 210,000 m? of high quality logistics
facilities, all located in logistics hotspots:
br>Roosendaal (NL) 41,600 m?
br>Venlo (NL) 83,400 m?
br>Bruges (B): 15,300 m?
br>Antwerp East Port (B): 43,700 m?
br>Herentals (B): 26,000 m?
Long-term leases have already been secured for all properties, valued at roughly EUR 160 million, including EUR 125 million in the Netherlands.
VE-Commerce (in Venlo), Agora 21 (in Roosendaal-Halderberghe) and Antwerp East Port (in
Grobbendonk) represent a combined development potential of 230,000 m?. In joining forces,
the two partners are looking to fast-track the development of these strategic locations.
VE-Commerce campus is ideally located at Trade Port North Venlo. This site will be the future
home of the new 66,000 m? European Distribution Centre (EDC) for multinational clothing giant
PVH (parent company of Tommy Hilfiger, Calvin Klein, etc.), with room to develop another
80,000 m?.
Antwerp East Port is currently home to two heavy hitters in supply chain solutions:
Bleckmann, an omni-channel fashion and lifestyle logistics expert, and Sumitomo. There is
ample room to develop another 75,000 m? of space, with 10,000 m? already earmarked for
construction without a pre-let in the next few months. Located along the E313 and with direct
access to the Albert Canal via DPWorlds full-service inland container terminal, Antwerp East
Port is a bi-modal logistics hotspot that extends the reach of the port of Antwerp.
Halfway between the ports of Antwerp and Rotterdam, with excellent visibility from the A17
motorway, the Agora 21 logistics campus in Roosendaal-Halderberghe can accommodate
tenants looking for units ranging from 10,000 to 70,000 m?.
AG Real Estate: “This partnership is a natural fit for us, a true reflection of our corporate
values. As we strive to be “Responsible & Creative Together”, we look to partner with
companies that share our goals and objectives. Creativity is another key value that we have in
common with Groep Heylen their completed logistics projects humbly attest to this
resourcefulness. In combining the flexibility of Groep Heylen with the fire power of AG Real
Estate, were thoroughly convinced that our new venture will lead to real business success,
commented Serge Fautre, CEO of AG Real Estate.
“Groep Heylen is a firm believer in the logistics campus concept and the ‘collaborative
warehouse’ design. This campus addresses the growing customer need for flexibility and the
ability to combine analogue and digital supply chain processes. With over 100,000 m? of
ground floor warehousing space on offer, internal redesign is always an option, a highly prized
selling point given the increasing levels of supply chain volatility”, added Wim Heylen,
Executive Chairman of Groep Heylen.