Deka Immobilien purchases new logistics building in Belgium

 
Frankfurt, 25.03.2025

Deka Immobilien has acquired a distribution centre developed by MG Real Estate through its Belgian branch. The premium logistics asset in Belgium will be added to the portfolio of the Deka-ImmobilienEuropa open-ended real estate fund. The parties have agreed not to disclose the purchase price.

The MG Park Malinas distribution centre in Mechelen, completed in 2024, comprises around 71,500 sqm of leasable space as well as 110 parking spaces for cars and 33 truck loading bays. It is fully leased on a long-term basis to a wholly owned subsidiary of the multinational food manufacturing company Kellanova, formerly Kellogg's. Strategically located in the immediate vicinity of its manufacturing plant, the hub facilitates efficient distribution across the Benelux countries and northern France. MG Real Estate will remain onboard, handling facility management to support the tenant’s ongoing operations.

Mechelen is a well-established logistics hotspot located between Brussels Airport and Antwerp, which is home to Europe's second largest port. It forms part of the Brussels, Antwerp and Ghent logistics triangle, offering direct motorway access and enhanced connectivity for supply chain operations. A photovoltaic system with an estimated production capacity of approximately 9,5 MW is planned for the roof of the property. The aim is to have the building certified as "Excellent" by BREEAM, the quality mark for sustainable buildings.

Jack Schulte, branch manager of Deka Immobilien in Brussels, comments: "After many years of successful asset management at Deka with office buildings, retail properties and hotels, we've now been able to get Deka into the logistics sector of the Belgian market too. Because of its central location in Europe, the logistics market in Belgium is of particular importance to us."

Ignace Tytgat, CEO MG Real Estate, adds: “We are proud to have transformed a former brownfield site into a prime logistics hub. Through our facility management services, we aim to continue to assist our client, Kellanova, in maintaining smooth operations going forward.“

With this transaction, the fund management of Deka-ImmobilienEuropa is securing a property in a coveted logistics sub-market in Belgium. The modern configuration of the property and the creditworthy tenant will provide stable long-term income for the fund.

DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 411,5 billion (as at 30/09/2024) and more than 5.6 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. It provides private and institutional investors with access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe (Savings Banks Finance Group) and tailors its product portfolio to the requirements of its owners and sales partners in the securities business.

The Deka Group's global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for EUR 51 billion (as at 31/12/2024) in real estate assets.