Eurinpro, a leading pan-European provider of customer-centric, tailor-made logistic real estate solutions, is pleased to announce that it has agreed to combine forces with international property group, Macquarie Goodman Group.
Over the last 15 years, Eurinpro has become the market leader in the growing specialized market of built-to-suit prime logistic real estate. Eurinpro has offices in eight European countries as well as representative offices in Japan and the US. It has realized more than 1.2 million m² of projects with a total value of close to €850 million. The Company currently has 425,000 m² of logistic real estate under development in eight different European countries which is managed by a team of over 90 people.
Bart Verhaeghe, Chairman and Chief Executive Officer of Eurinpro, will in addition to his present European positions become a member of the Macquarie Goodman Global Executive Committee that manages the Australian, Asian and European businesses of Macquarie Goodman.
Macquarie Goodman is a publicly listed, integrated property group which operates in Australia, New Zealand, Asia, Europe and the United Kingdom. Its operations encompass property investment, funds management, property development and property services backed by a team of over 700 property professionals.
As at 31 March 2006, Macquarie Goodman had a market capitalisation of approximately €4.4 billion (A$7.4 billion), making it the largest industrial property group listed on Australian Stock Exchange and one of the largest listed property groups globally. Macquarie Goodmans direct property portfolio is valued at €2.5 billion (A$4.3 billion) and total assets under management of €16.0 billion (A$27 billion).
Mr Verhaeghe, commented, "Eurinpro has established a leading European position for development of and investment in state-of-the-art logistic real estate. There is undoubtedly considerable scope for further growth in and outside the European market. I am delighted that with the combined expertise and resources of Macquarie Goodman behind it, Eurinpro now sees tremendous opportunities to build on our present position and grow its share in both existing and new markets. Eurinpro's current senior management is committed to further manage the business alongside Macquarie Goodman."
In December 2005, Macquarie Goodman acquired Arlington Securities, a UK based funds management business that focuses on business and office parks. Arlington has in excess of A$9.0 billion of business space funds under management in the UK and Europe.
Gregory Goodman, Chief Executive Officer of Macquarie Goodman commented, The transaction is highly strategic for Macquarie Goodman and we see a strong opportunity to significantly expand our European business. We have acquired two specialist businesses that have been truly successful in their own right. Importantly, they complement each other and our business model.
Mr Goodman added, We are looking forward to working with the Eurinpro team to provide a truly international property solution to customers. With the addition of Eurinpro we now have a comprehensive UK/European footprint with local personnel and expertise to drive the business.
Goldman Sachs International acted as financial advisor and Linklaters De Bandt as legal advisor to Eurinpro in this transaction.