In December, a Katten team led by Financial Markets and Funds Partner Edward Tran advised Swedish asset manager Areim AB (Areim) in connection with a complex 50-50 joint venture named "Saga" with VGP NV, a publicly listed European logistics real estate company. The financing of Areim's share in the joint venture comes from a recently closed fund, Areim Pan-European Logistic Fund, which was closed with €500 million in committed capital, raised from international institutional capital.
The joint venture plans to target a gross asset value of €1.5 billion and will focus exclusively on key European markets, including France, Germany, the Czech Republic, Slovakia and Hungary. The joint venture partners have earmarked a target portfolio, including a substantial seed portfolio set to close in the first quarter of 2024. Katten was brought in to represent Areim based on our significant experience representing institutional investors.
Along with Edward, the Katten team included Corporate Partner Oliver Williams, Senior Associate David Wood and Associate Alex Potten; Financial Markets and Funds Partners Neil Robson and Chris Hennion, Senior Associate Chris Collins and Associate Ciara McBrien; Employment Litigation and Counseling Partner Christopher Hitchins and Senior Associate Brigitte Weaver; Transactional Tax Planning Partner Charlotte Sallabank and Associate Christy Wilson; and Intellectual Property Senior Associate Sarah Simpson.
"VGP Unveils New €1.5 Billion 50:50 Joint Venture," VGP, December 18, 2023
