“We have been advising Equity Estate for over 15 years and have greatly enjoyed the relationship and seamless collaboration with the Equity Estate team.

Jean-François Vandenberghe, Lawyer (partner), Baker & McKenzie, Brussels

Equity Estate divests Willebroek - Belgium

6-11, 2020

Equity Estate Group, owner of the Queristics portfolio, divested the 34,000 sqm logistics asset in Willebroek after leasing the building to Eutraco in July 2020. The asset was part of the Queristics portfolio and has been sold to GLP, a leading investor and developer of logistics warehouses and distribution parks.

The asset is situated in one of Belgium’s premier markets in the heart of the Belgium’s ‘Golden Triangle’, strategically located between the A12/E19 motorways connecting the country’s two largest metropolitan areas,
Antwerp and Brussels. It is also in close proximity to the port of Antwerp, the second largest European port, and Brussels airport, one of Europe’s largest cargo airports.

Philippe Hendriks, GLP Belgium and Netherlands, said: "Following our recent acquisition in the Port of Ghent this facility solidifies our entry into the Belgian logistics market as we continue to grow our operations in the region to meet growing customer demand. The asset in Willebroek is an excellent facility that benefits from convenient access to commercial and transport hubs in Belgium and further afield, making it an ideal addition
to our Benelux offering.”

Enrico van Erkelens, CEO of Equity Estate Group, said: “Over the past few years we have seen an increasing interest in the Belgium logistics market followed by a swiftly decreasing yield gap with the surrounding countries. After recapitalisation of the Queristics portfolio in 2018, and leasing the asset in 2020, for us this was a good moment to divest this great building.”

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