VGP, a pan-European owner, manager and developer of high-quality logistics and semi-industrial real estate, and Deka Immobilien, one of the largest globally active real estate investment companies in Europe, agreed to form a €1.1bn joint venture. "With DEKA, one of the leading European real estate investors, we have found a partner with a shared vision, focusing on creating sustainable value. Our joint venture marks an important milestone in our strategy to further diversify our cash recycling model and it speaks for the quality of our platform that we have been able to come to this partnership notwithstanding the adverse investment market conditions. We will share further details with our H1 update, but we are well on track to deliver on our targets for 2023 and beyond," Jan Van Geet, VGP CEO.