1st Jul 2014 07:49
LONDON (Alliance News) - Segro PLC Tuesday said SEGRO European Logistics Partnership (SELP) has completed the acquisition of a portfolio of prime logistics assets and development land in Germany, Poland and France from Tristan Capital Partners and AEW Europe in a deal worth EUR472 million.
FTSE 250-listed Segro holds a 50% stake in SELP and acts as asset, property and development manager for the joint venture. Canada's Public Sector Pension Investment Board holds the remaining stake.
SEGRO European Logistics Partnership has paid for the portfolio in staggered payments since the deal was announced in February. SELP has now transferred the remaining EUR185 million it owed after paying about EUR286 million in May.
Segro said the current contracted annualised net rental income associated with the assets just completed is EUR11.6 million, giving a total of EUR31.6 million for the portfolio as a whole.
Segro shares were quoted up 0.2% at 346.00 pence Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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