LONDON (ShareCast) - (Sharecast News) - Real estate investment trust Segro has announced that its joint venture with a Canadian pension fund has bought six logistics assets from Tritax EuroBox for €470m (£394m).
Segro European Logistics Partnership (SELP) has purchased 370,000 square metres of Tritax assets in Breda and Roosendaal in the Netherlands, the Frankfurt corridor and the Rhine-Ruhr region in Germany.

The deal, which comprises assets that currently generate €24m of headline rent each year, comes just four months after a failed takeover attempt by Segro of Tritax.

"We are delighted to have reached an agreement to purchase this portfolio of high-quality big box warehouses, located in some of Europe's most attractive logistics hubs," said Segro's chief executive David Sleath.

"They will complement SELP's existing German and Dutch portfolios, offering both future rental growth potential and the ability to enhance returns through the benefits of increased scale."

SELP was incorporated in 2013 as a 50:50 joint venture between Segro and Canadian pension fund, the Public Sector Pension Investment Board, to create a leading continental European logistics platform.

The Tritax assets were bought from Titanium Ruth Holdco - the purchasing vehicle of Brookfield Asset Management which beat Segro in a takeover battle of Tritax in September 2024.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE