Geneba Enters into Sale & Leaseback Transaction with Bakker Logistiek Groep

Geneba acquires Bakker’s main logistics facilities in the Netherlands

AMSTERDAM--()--Geneba Properties N.V. (“Geneba”) announced today the closing of its transaction with Bakker Logistiek Groep B.V. (“Bakker”) to acquire and lease back two properties owned and used by Bakker in the Netherlands. The properties are located in the municipalities of Tilburg and Zeewolde and include a total lettable area of 70,000 m2.

“In order to speed up the process of further developing and growing both the logistics company and the dealership business of Bakker Groep, we have chosen for a sale-and-leaseback transaction to support this expansion. Due to this transaction, the Bakker Groep creates more flexibility and more financial opportunities.”

Bakker, a market leader in food logistics throughout the Benelux region, specializes in the warehousing and transportation of conditioned and cooled food products. With almost 2,000 employees and a fleet of 600 trucks, Bakker services a group of blue chip clients including Ahold, FrieslandCampina, Mondelēz, Unilever, Metro, Superunie and Coop.

The property in Zeewolde serves as the main warehouse and distribution facility as it is located in close proximity to Bakker’s major suppliers. In addition, the property houses Bakker’s corporate headquarters. The logistics facility in Tilburg is mission critical to the distribution of products throughout the region and serves clients in the Netherlands, Belgium, Luxembourg and Germany.

Piet Bakker, Owner Bakker Groep:

“In order to speed up the process of further developing and growing both the logistics company and the dealership business of Bakker Groep, we have chosen for a sale-and-leaseback transaction to support this expansion. Due to this transaction, the Bakker Groep creates more flexibility and more financial opportunities.”

Wulf Meinel, CEO of Geneba:

“Partnering with Bakker and adding these two high quality assets to Geneba’s portfolio underscores our strategy of providing superior property solutions to corporate businesses in core Europe. Bakker is a very strong tenant within the recognizably stable food sector. We are proud to have been selected as Bakker’s partner for this transaction.”

Gabriel de Alba, Chairman of the Supervisory Board of Geneba:

“Conducting these acquisitions following the recent € 112 million distribution to our shareholders demonstrates the strength of our capital structure and proven capacity to close large transactions efficiently. We expect to close additional investments in the coming months.”

The acquisition has been financed by a long-term loan from Deutsche Postbank AG as well as additional corporate debt and own cash. Geneba was advised by Loyens & Loeff (legal) and JLL (commercial). The seller was advised by Osborne Clarke (legal) and Proptimize (commercial).

About Geneba

Geneba Properties N.V. (“Geneba”) is a European commercial real estate company that commenced business in 2014 and is headquartered in Amsterdam, the Netherlands. The company owns and manages a property portfolio of approximately EUR 500 million as of 31 December 2016 consisting of long-term leased corporate real estate assets in Germany and the Netherlands.

Geneba's investment strategy focuses on corporate real estate assets which serve its tenants on an operational basis, providing “a home to their businesses”. The main investments targets are logistics and light industrial buildings in Germany and the Netherlands. Geneba’s shares trade at NPEX. Geneba is subject to the supervision of the Dutch financial regulator, AFM. For more information: www.geneba.com.

Contacts

Gagnier Communications
Dan Gagnier, +1-646-569-5897
dg@gagnierfc.com

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Release Summary

Geneba Properties N.V. announces the closing of its transaction with Bakker Logistiek Groep B.V. to acquire and lease back two properties owned and used by Bakker in the Netherlands.

Geneba Properties N.V.