25 Sep 2018 07:00
25 September 2018
Completion of acquisitions
Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the company investing in European growth cities, has completed the purchase, in separate transactions, of three Netherlands industrial assets, for €19.8 million, reflecting a combined net initial yield of 6.5%, as announced on 21 August 2018.
SERE's portfolio currently comprises 12 properties with a value of approximately €222 million. The portfolio will generate contracted rents of €16.1 million with an average unexpired lease term to first break and expiry of 5.1 years and 6.7 years (per end of June 2018). The acquisitions provide further sector diversification, with the portfolio having the following allocations; 49% office, 29% retail, 13% industrial and 9% mixed use. Following these acquisitions, SERE has a remaining investment capacity of approximately €15 million.
Enquiries:
Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa Tel: 020 3727 1000
FTI Consulting
Schroder Eur.r (SERE)