Geneva, February 6th 2020
AB European Real Estate Fund has just signed a lease extension for 5 years with one of its major tenants, Vos Logistics, which occupies a warehouse of about 20’505 sqm. This lease prolongation is a strategic milestone for the Fund as the income generated by this property represents 11% of the total rental income of the portfolio. Furthermore, this new lease has contributed to the value increase of the property over the last year (+8.6% in 2019).
Vos Logistics, an independent European logistics service provider, uses the premises for the storage and stock management of AkzoNobel products (i.e. decorative paints, performance coatings and specialty chemicals) for the German market. The company specializes in a wide range of transport and customer-specific logistics services and operates a network of 30 group-owned locations across Europe. It has 2,560 employees, and operates a fleet of 1,250 vehicles. Vos Logistics is one of the largest road hauliers in Europe In the Mega and High Volume transport markets.