13th Nov 2014 09:53
LONDON (Alliance News) - Tritax Big Box REIT said Thursday its net asset value per share rose in the third quarter and said it has struck a deal to buy The Range distribution centre in Doncaster for GBP48.5 million.
The real estate investment trust said its net asset value per share at October 31 was 102.60 pence, up from the 101.85 pence per share reported at the end of June.
The company said its property portfolio has been independently valued at GBP516.1 million at October 31 and said its portfolio is performing in line with expectations, with 100% occupancy in the third quarter.
"The company's performance goes from strength to strength as we continue to expand successfully our portfolio of high quality big box assets. The board and manager remain confident of delivering excellent returns to our investors through a stable and growing income stream, coupled with the potential for capital appreciation in a dynamic market," said Chairman Richard Jewson.
The company also said it has exchanged contracts on the acquisition of The Range UK National Distribution Centre, based at Nimbus Park in Thorne in Doncaster.
Tritax has signed a senior debt financing deal with Barclays PLC to provide GBP24.25 million, secured on the new asset.
Tritax shares were down 1.0% to 108.675 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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