9th Aug 2023 09:14
(Alliance News) - Tritax EuroBox PLC on Wednesday said it sold its warehouse asset in Hammersbach, Germany to a pan-European real estate investment manager.
The London-based investor in logistics property across Europe said the EUR64.6 million sale was broadly in line with the valuation as at March 31 and reflects a net initial yield of 4.45%.
Tritax EuroBox Investment Director Alina Iorgulescu said: "The completion of this sale supports our strategy of crystallising value and recycling proceeds into reducing leverage and funding existing portfolio opportunities," adding that the sale provided the company with confidence to complete further disposals.
Tritax Eurobox shares were 0.4% lower at 53.70 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Tritax Eurobox