MG Real Estate expands Deka Immobilien’s portfolio with first Belgian logistics asset
Deka Immobilien has acquired a distribution centre in Belgium, developed by MG Real Estate. The premium logistics asset 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 50 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.
About MG Real Estate:
MG Real Estate is a leading international real estate development and investment firm, specializing in large-scale logistics hubs, in prime European locations. With an entrepreneurial spirit at its core, MG Real Estate pushes boundaries to create innovative, high-quality spaces for businesses and communities.
From transforming brownfield sites to developing future-proof mixed urban spaces, we create lasting value through our expertise and solution-oriented approach. With a strategic focus on Belgium, the Nordics (Denmark and Sweden), France, Luxembourg and the Netherlands, we continue to expand our presence across Europe.