Canadian asset management giant Brookfield has agreed to sell a portfolio of six Tritax EuroBox assets to UK REIT Segro, pending its takeover of the European logistics specialist.
Under the deal, Segro will acquire the assets, located in the logistics hubs of Breda and Roosendaal in the Netherlands as well as in the Frankfurt corridor and the Rhine-Ruhr region in Germany, for €470 million in cash.
The six warehouse properties – four in Germany (Bönen, Dormagen, Gelsenkirchen and Lich) and two in the Netherlands (Breda and Roosendaal) - account for 31% of Tritax EuroBox's portfolio value and total 370,000 square metres of modern and fully leased logistics space.
The assets currently generate around €23 million of rent, resulting in a blended net initial yield of 4.7% in cash.
The deal effectively ends the takeover battle for Tritax EuroBox between Brookfield and Segro, which have been vying for the firm since September.
Source: propertyeu.info on the 12th of November, 2024
https://propertyeu.info/Nieuws/Brookfield-to-offload-470m-of-Tritax-EuroBox-assets-to-Segro-after-takeover/c1562b11-a35c-4130-8901-0830733bac3f