SEGRO European Logistics partnership, a vehicle that SEGRO owns 50% of and manages, is acquiring a portfolio of 14 logistics assets located across Germany, Poland and France for €472m.
The whole portfolio comprises 679,000 sqm of lettable space (including one facility under construction) and 51ha of development land in Germany. Excluding the property being built (which they are paying €9m for), the completed assets have an initial yield of 7.1%.
SEGRO will contribute €142m in cash towards the deal.