BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - LOGISTRIAL Real Estate AG said it is preparing for an initial public offering in Germany. The company plans its shares to be listed on the regulated market of the Frankfurt Stock Exchange. The company will primarily use the proceeds from the IPO to acquire its initial property portfolio.
LOGISTRIAL targets a GAV of more than 2 billion euros in the medium term. Once qualified as a REIT, the company plans to distribute an annual dividend equal to the greater of 90% of its funds from operations.
Based in Hamburg, Germany, LOGISTRIAL Real Estate AG focuses on properties in Germany, France, the Netherlands and Austria as well as other EPRA countries. It plans to become a leading consolidator in the European logistics real estate market. LOGISTRIAL Real Estate targets to become a German real estate investment trust by 2020.
Copyright RTT News/dpa-AFX