King Sturge has advised DHL in the sale of 3 logistical sites located in Mechelen, Meer & Willebroek to WDP (Warehouses De Pauw) via a sale & leaseback transaction. All these sites are situated on the logistic axe Breda-Brussels and have a total surface of 85.000 m². DHL will thereafter rent the 3 sites. This transaction, amounting to € 30 millions will be financed by a shares transfer without any cash payment.

Jean-Philip Vroninks, Director Investment at King Sturge said: “This structure, as well as a take over of the leasing debts by WDP has constituted the main argument to opt for WDP. This implies some financial advantages for DHL. WDP has been able to bring this solution thanks to their flexible attitude regarding leasing debts but also thanks to its SICAFI status. It is very probable that other SICAFI could consider similar transactions due to the current difficulties on the credit market “.

DHL is the global market leader of the international express and logistics industry.

Closed-end real-estate Investment Company WDP constructs, develops and lets semi-industrial and logistics property.

King Sturge is one of the biggest real estate advisors in Europe.