Sale of German asset

At the beginning of 2020, Vabeld has sold its only asset in Germany. Vabeld developed a manufacturing and logistics center for the Joris Ide company in Ansbach in 2012-2013. The project involved the purchase of 10 hectares of land and the construction of 2 individual warehouses.
With the acquisition of the company Joris Ide by Kingspan, market leader in insulation panels, the tenant’s real estate strategy changed as Kingspan prefers to own their premises and a sale purchase agreement was reached.