Goodman has agreed to sell its assets in Central and Eastern Europe to GLP for about €1bn as part of a drive to focus more on gateway cities and major markets in continental Europe.
The portfolio includes properties located in Poland, Hungary, Czech Republic and Slovakia.
Goodman Continental Europe chief executive Philippe Van der Beken said: “The proceeds of this transaction will enable us to capitalise on the strong demand for industrial property and continue to scale up in the major consumer markets in Germany, France, Spain, Benelux and Italy.
“We will continue to focus on owning high-quality properties and building out our significant development pipeline in these markets, where barriers to entry are high and land is scarce.”
Goodman is on track to surpass €28.8bn in assets under management in June 2020.
The transaction is subject to regulatory approval.
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