Tritax EuroBox PLC - investor in continental European logistics real estate assets - Acquires two logistics assets in Germany for EUR290.9 million, reflecting a combined net initial yield of 3.9%.
The first property is a 70,000 square metre logistics property in Nuremberg, the European distribution headquarters of a German sportswear manufacturer.
The second property is a 94,800 sqm logistics asset located close to Giessen, and is leased for 15 years to US online furniture group Wayfair Inc.
"Following the successful raise of EUR230 million of new equity in March 2021, we are delighted to acquire swiftly these two assets in core logistics locations in Germany, deploying a large part of the equity proceeds recently raised and the proceeds of the profitable sale of an asset in Poland. Both buildings are highly sustainable, modern, top specification logistics facilities. They benefit from excellent transport and infrastructure connectivity and are let on long index linked leases to high quality, market leading, global occupiers," said Fund Manager Nick Preston.
Current stock price: 101.60 pence
Year-to-date change: up 3.2%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Tritax Eurobox (EBOX)