Warehouses De Pauw

What Warehouses De Pauw does

Warehouses De Pauw (WDP) is a Belgian regulated real estate company (BE-REIT) that develops, owns, and operates logistics warehouses and distribution centers across six European markets: Belgium, the Netherlands, Germany, France, Luxembourg, and Romania. Founded in 1999 and dual-listed on Euronext Brussels (reference market) and Euronext Amsterdam under the ticker WDP, the company serves enterprise logistics customers requiring distribution centers for supply chain operations, e-commerce fulfillment, cold storage, pharmaceutical logistics (GDP), and hazardous materials (ADR). Its core offerings span four pillars: direct rental of existing warehouse space; build-to-suit custom construction (including specialized variants such as TAPA-secured, frozen/cooled, cross-dock, automated, and multi-layer warehouses); sale-and-leaseback transactions; and brownfield redevelopment of industrial land. WDP also operates MyWDP, a digital tenant portal, and offers value-added WDP Services covering energy (rooftop solar), branding, safety, well-being, parking, and handyman maintenance.

Name

Warehouses De Pauw

Legal name

Warehouses De Pauw SCA

Website

https://wdp.eu

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

WDP is a Belgian REIT (BE-REIT) that develops, owns, and operates logistics warehouses and distribution centers across six European countries, serving enterprise logistics customers via rental, build-to-suit, and sale-leaseback agreements, complemented by digital tenant services (MyWDP) and sustainability-driven value-added offerings.

Ownership category

akta.pro rank

Product category

Logistics Real Estate

NAICS

General Warehousing and Storage (49311), Warehousing and Storage (4931), General Warehousing and Storage (493110), Other Warehousing and Storage (49319)

SIC

Public Warehousing & Storage (4220), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Multi-Client Public Warehousing (Dry) (TLALAAAA)

akta.pro secondary industries

Hazardous Materials & Regulated Goods Storage (Non-Refrigerated) (TLALAAAG), Telecommunications & Network Equipment (TLAIALAN)

Keywords

• Logistics real estate
• Warehouse leasing
• Build-to-suit development
• Distribution center investment
• Reit property management

Headquarters

HQ city

Wolvertem

HQ country

Belgium

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Warehouse Rental Income: Primary revenue stream from renting logistics warehouse space to enterprise clients. Rental income net of rental-related expenses projected at €444.1 million for 2025 (consensus). WDP operates as a Belgian REIT (BE-REIT) distributing dividends to shareholders.
2. Build-to-Suit Development: Custom warehouse development services where WDP designs and constructs distribution centers tailored to client specifications, then leases them back.
3. Sale and Lease Back: WDP purchases existing logistics real estate from clients who then lease it back, providing liquidity to clients while WDP acquires income-producing assets.
4. Brownfield Redevelopment: Redevelopment of industrial brownfield sites into modern logistics real estate, combining superior locations with high-end facilities.
5. Property Disposals: WDP has delivered strong total returns on €60 million of disposals, generating capital gains and recycling portfolio assets.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

WDP develops, owns, and leases modern logistics warehouses and distribution centers to enterprise tenants across Belgium, the Netherlands, Romania, Germany, France, and Luxembourg. Its core offerings include standard warehouse leasing, custom build-to-suit development, sale-lease-back transactions for owner-occupiers, and brownfield redevelopment of obsolete industrial sites. The portfolio is managed as a regulated Belgian REIT (BE-REIT), generating long-term rental income from multi-year leases with corporate logistics customers.

Product overview

Warehouses De Pauw (WDP) is a Belgian logistics REIT offering a portfolio of warehouse and distribution centre solutions. Its core offering is a platform of real estate services comprising four primary pillars: renting existing warehouse space, build-to-suit custom construction (with specialist variants for TAPA security, frozen/cooled, cross-dock, automated, multi-layer, GDP, and ADR environments), sale-and-lease-back of owned logistics properties, and brownfield redevelopment of industrial land. WDP complements its real estate portfolio with the MyWDP digital tenant portal and a suite of WDP Services add-ons covering energy (rooftop solar), branding and signage, safety and security, well-being, parking and mobility, and handyman maintenance (offered as Set & Save or Call & Go plans). The company operates across Belgium, the Netherlands, Romania, Germany, France, and Luxembourg.

Differentiator

Problem solved

Functional benefit

Brands

• WDP Services: Upgrade services for WDP warehouses including energy, branding, safety, well-being, and mobility solutions.
• MyWDP
• BE-REIT

Products and services

• Warehouse Leasing Long-term rental of standard and customized logistics warehouses and distribution centers to enterprise logistics tenants across Belgium, the Netherlands, Romania, Germany, France, and Luxembourg.
• Build-to-Suit Development Custom design and construction of new logistics warehouses tailored to specific tenant operational requirements, including size, layout, racking, dock equipment, and sustainability specifications.
• Sale-Lease-Back Transactions Acquisition of owner-occupied logistics or industrial real estate with simultaneous long-term leaseback to the seller, enabling corporate clients to release capital from real estate while retaining operational continuity.
• Brownfield Redevelopment Acquisition and redevelopment of obsolete or underused industrial sites into modern, sustainable logistics warehouses, including environmental remediation.
• MyWDP Digital Platform Digital portal giving tenants access to their lease portfolio, sustainability performance, and space optimization data, reinforcing WDP's value-add tenant engagement and supporting premium rental pricing.

Quantifiable outcome

• Rental income growth trajectory: €444.1M (2025) → €532.7M (2028)

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Clifford ChanceminorOthers · 17 October 2025Clifford Chance served as legal advisor to key financial institutions involved in WDP's €500 million inaugural green bond issuance. This was WDP's first green bond, establishing its presence in the sustainable debt capital markets.

Scale indicators12 records

Recent moves5 records

Expansion highlights5 records

Regional players

• Catena: Swedish logistics and commercial real estate company with Nordic focus. Comparable to WDP in core logistics real estate ownership and development, but operates in a different geography (Nordics) rather than competing directly in Benelux.
• Xior Student Housing: Belgian regulated REIT comparable to WDP by BE-REIT structure and Belgian listing, but operates in student housing rather than logistics. Useful as a structural peer for BE-REIT regulatory exposure and dividend mechanics rather than business model.

Direct peers

• SEGRO: UK-listed pan-European logistics REIT with a similar business model focused on big-box warehouses and urban logistics. Directly comparable to WDP in build-to-suit capabilities, multi-tenant operations, and European geographic exposure, though at significantly larger scale.
• Montea: Belgian regulated REIT specializing in logistics and semi-industrial real estate in Belgium, Netherlands, and France. Nearest direct competitor to WDP by geography, scale, and business model — both are BE-REITs serving similar enterprise logistics tenants in Benelux.
• VGP: Belgian-headquartered pan-European logistics developer listed on Euronext Brussels. Closely comparable to WDP in build-to-suit development, semi-industrial/logistics focus, and European geographic footprint, with similar tenant base and BE-REIT-style structure.
• Tritax EuroBox: UK-listed European logistics REIT focused on big-box distribution centers. Comparable to WDP in tenant profile (logistics, e-commerce, retail), lease structure, and European continental exposure, though with smaller scale and earlier portfolio maturity.
• P3 Logistic Parks: European logistics real estate owner and developer owned by GIC. Comparable to WDP in pan-European big-box warehouse focus, build-to-suit development, and enterprise tenant base across Western and Central Europe.
• CTP: Amsterdam-listed logistics developer with strong Central and Eastern European footprint. Highly comparable to WDP in build-to-suit model, brownfield redevelopment, and recent entry into Romania, though CTP's CEE weighting is higher and portfolio is younger.

Broad incumbents

• Prologis: Global logistics REIT and the dominant player in European logistics real estate. Comparable to WDP in core warehousing and build-to-suit offering, but operates at vastly greater scale with deeper tenant relationships and stronger land bank across WDP's target geographies.
• GLP / Gazeley: Global logistics real estate platform with significant European presence through Gazeley. Comparable to WDP in warehouse leasing and build-to-suit, but operates globally with significantly greater scale and capital base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UChYKtv-qwZIJ7zDbcUrwXFA
• Facebookfacebook.com/WDPwarehouses
• LinkedInlinkedin.com/company/wdp
• Instagraminstagram.com/wdp_warehouses_with_brains
• Xx.com/wdp_eu

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Warehouses De Pauw