20th Oct 2021 20:26
Urban Logistics REIT PLC - UK industrial properties investor - Acquires two properties for total of GBP15.1 million at a 6.0% net initial yield. The assets include one income producing asset providing immediate additional revenue, and a forward funding development project. Ads that GBP50 million of further investments are in advanced stages of contractual progress and are expected to be completed in the near term at a 6.2% NIY.
Richard Moffitt, chief cxecutive, says: "We are delighted to announce these latest acquisitions, which once again demonstrate our team's expertise and deep sector knowledge in successfully acquiring high quality assets in off-market transactions at an attractive blended net initial yield of 6.0%. The acquisitions fit into our strategy to acquire medium sized last mile assets with excellent transport links in areas with strong demand, attracting robust tenants.
"As anticipated, we continue to see strong market fundamentals and significant opportunities to provide additional value for shareholders through our active asset management approach."
Current stock price: 169.88p
Year-to-date change: up 18%
By Arvind Bhunjun; [email protected]
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