Goodman European Logistics Fund (GELF) notes the rating assigned by Moody’s Investor Service (Moody’s). GELF was assigned a first-time issuer rating of Baa3 with a ‘stable outlook’.
Moody’s noted that GELF’s high-quality portfolio of modern prime logistics properties with continuously high occupancy rates provides the fund with ‘sustained positive cash flows’ and said that the fund has a lower business risk profile than similarly rated peers, because its development activity represents only a small proportion of its assets.
Emmanuel Van der Stichele, Fund Director GELF said: “We are pleased to have obtained an investment grade rating from Moody’s. This is a real endorsement of GELF, our business strategy and the strength of the Continental European portfolio. The rating is a significant milestone in GELF’s strategy of diversifying its sources of capital.”
GELF has 92 assets in its portfolio totalling 3 million sqm of warehouse space across continental Europe and is valued at €1.7 billion, making it one of the largest unlisted real estate funds in Europe.
Please see the attached announcement made by Moody’s for further information.
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For further information, please contact Goodman:
Majella O Doherty
+32 2 263 4068
About Goodman European Logistics Fund (GELF)
Goodman European Logistics Fund, FCP-FIS (GELF or ‘the Fund’) is a Luxembourg-based investment vehicle operating a €1.7 billion pan-European logistics real estate platform, spread over 11 countries. The Fund, managed by Goodman, focuses on high quality logistics and warehouse properties. GELF offers well-informed, institutional investors a right of first refusal over assets developed by Goodman Group in Continental Europe. GELF is now one of the largest unlisted European funds dedicated to logistics real estate.
Click here to download Moody’s Investor Service announcement