WDP Romania

active

 The project is an investment up to US$270m senior unsecured loans to finance Warehouses de Pauw NV (WDP or Company), a listed Belgian REIT for the development and management of a pipeline of warehouses/semi-industrial properties in Romania (Project).  WDP is a property developing and facility managing company headquartered in Belgium, which leases its custom-tailored logistics and semi-industrial buildings. WDP owns, develops and manages logistics, warehouses and semi-industrial property with properties in the Netherlands (47%), Belgium (35%), France (4%), Luxembourg (1%) and Romania (13%). The current WDP’s portfolio is comprised of 68% of class A warehouses, those are of high-quality modern buildings in good locations; 13% of the portfolio is BREEAM certified. WDP leases its property to tenants from various industries. The current tenants’ industry portfolio breakdown is as follows: industry (warehousing and logistics centers for spare parts, tires and etc.) -24%; retail and wholesale -21%; FMCG -14%; food, fruit & vegetables -12%; light manufacturing (assembling or light production of spare parts) -7.7%; post and parcel delivery -7.4%; and healthcare -5%. WDP owns 77 buildings throughout Romania constructed during the period of 2015-2019. 51% of buildings in Romania are less than 10,000 m2, 40% are between 10,000 and 25,000 m2 and 10% are between 25,000 and 50,000 m2. Tenants composition in Romania (by rental income) is as following: retail (30.6%), manufacturing (29%), FMCG (16%), industry (15.6%), food, fruit & vegetables (3%), other (6%). In addition, WDP Romania operates PV installations of 15 mWp (installed peak power), whereas two are roof-top projects and two are field solar PV installations of 6 and 7 mWp constructed in 2012. The Company intends to obtain Excellence in Design for Greater Efficiencies (EDGE) green building certification on all new developments in Romania.  WDP selects its sites at the strategic locations along the logistic corridors and in the immediate vicinity of storage and distribution hubs and leases its property. WDP strategy is to develop a sustainable property by implementing of energy efficient measures and using renewable energy sources.