Another €550 million raised for Goodman European Logistics Fund (GELF)

Jonathan ChancellorDecember 7, 2020

The logistics property firm, Goodman Group has raised €550 million ($775 million) for its Goodman European Logistics Fund (GELF).

Investor interest was strong for the €1.9 billion GELF, which is Goodman’s largest European investment vehicle with 95 assets in 11 countries.

Earlier in the year it raised another €550 million in its first Eurobond issue. With the new debt and equity the fund has an €800 million capacity for further investment.

“The overwhelming demand for the equity raise reflects the fund’s high quality portfolio and the attractiveness of the European logistics property market to large institutional investors,” the CEO Greg Goodman said.

Emmanuel Van der Stichele, the GELF fund director said with its pan-European diversified portfolio GELF presented an "exceptional opportunity" to invest in the European logistics real estate market.

"We intend to use the proceeds to further strengthen our market position and the ongoing diversification of our portfolio, with a focus on prime assets in key European logistics locations." Mr Van der Stichele added.

As at March 2013, GELF’s occupancy rate stood at 97%. The portfolio has a weighted average lease expiry (WALE) to first break of 4.9 years.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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