31st Mar 2015 13:24
LONDON (Alliance News) - FTSE 250-listed property developer SEGRO PLC on Tuesday said its SEGRO European Logistics Partnership joint venture has acquired a logistics facility in Germany for EUR37 million.
SEGRO said the facility, located in Oberhausen in the Rhine Ruhr region is let on a nine-year lease to European convenience retailer and distributor Lekkerland.
"The transaction is in line with SEGRO's strategic objective to grow the SELP portfolio in its key target markets in Western and Central Europe," said SEGRO Chief Investment Officer Phil Redding.
SEGRO shares were down 0.4% to 420.2 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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