Goodman's European Logistics Fund (GELF) has agreed to a sale-and-leaseback deal with German logistics provider Kuehne + Nagel for 22 warehouse assets at the cost of EUR 220 mln. The average leaseback period will be five years. In addition to the properties GELF has acquired 18.8 hectares of undeveloped land reserves. Total warehouse space amounts to 430,000 m[sup]2[/sup] and includes ten assets in Germany, nine in France as well as one each in Spain, Belgium and Austria.
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