on SEGRO PUBLIC LIMITED COMPANY (isin : GB00B5ZN1N88)
SEGRO's SELP Acquires Tritax EuroBox Assets for €470 Million
SEGRO PLC has announced that the SEGRO European Logistics Partnership (SELP) has completed an agreement to acquire six assets from Titanium Ruth Holdco Limited, previously known as Tritax EuroBox plc. The transaction is valued at €470 million, inclusive of property taxes and customary adjustments.
The portfolio encompasses 370,000 square meters of modern, fully-leased logistics space located in key hubs in the Netherlands and Germany. These assets currently generate around €24 million in headline rent, offering a net initial yield of 5.0% and a net true equivalent yield of 5.4%.
The acquisition is subject to EU anti-trust clearance anticipated in Q1 2025. SEGRO's CEO, David Sleath, emphasized that these logistics sites will enhance SELP's presence in Europe, with potential for future rental growth.
R. E.
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