10th Sep 2019 09:59
(Alliance News) - Tritax Big Box REIT PLC on Tuesday said its logistics business, db symmetry, has been rebranded as Tritax Symmetry.
The real estate investment trust, which specialises in warehouse assets, bought an 87% economic interest in db symmetry's assets in February.
Tritax Big Box Fund Manager Colin Godfrey said: "The acquisition of the Symmetry portfolio provides a hugely attractive platform from which we will develop logistics real estate investments internally on a greater scale, at an attractive yield on cost. Over the next 8-10 years, this purchase offers the potential to boost our earnings growth, thereby supporting our progressive dividend policy in a disciplined way."
Godfrey added: "This rebrand underlines the successful integration of the Tritax Symmetry team, helping to ensure that we are now best placed to maximise the significant opportunities from our combined sector-leading expertise and complementary skill sets over the short and longer term."
Shares in Tritax Big Box were up 0.3% at 140.76 pence in London on Tuesday morning.
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