Warehouses De Pauw CEO: M&A Pipeline Active, Balance Sheet Ready

The update comes as European logistics real estate faces pressure from rising vacancy in some markets and higher financing costs. Warehouses De Pauw has focused on prime locations in Belgium, France, the Netherlands and Germany, where demand from e-commerce and third-party logistics tenants has held up better than office or retail assets.

Mickaël Hauwe, the company's chief financial officer, said the balance sheet is "ready to act" on acquisitions that meet the company's yield requirements. He noted that the company's loan-to-value ratio gives it room to add leverage without breaching covenants.

Uwents did not provide a timeline for any specific transaction. The company reports half-year results in August.