Tritax Big Box REIT reports 3.9% increase in NAV since December launch

BBOX : Tritax Big Box REIT reports 3.9% increase in NAV since December launch

Tritax Big Box REIT has posted its first interim results since raising £200m at its IPO in December 2013. Since launch Tritax has seen its NAV per share increase from 98p to 101.85 as at 30 June, a 3.9% increase. In addition, an interim dividend of 1.85p was paid on 8th August. The 30th June 2014 valuation of Tritax’s portfolio of £360.7m is approximately 4.6% higher than the aggregate acquisition price of the properties, excluding costs, whilst the loan to value ratio at 30 June 2014n was 43.0% (debt drawn down stood at £155.2m). Since the 30 June, an additional £150.0m was raised in July 2014 of which £46.4m has been invested in two further big box assets. Tritax report that the remaining net proceeds of the fnd raising will be used to make further acquisitions and that management is in discussion with the owners of a number of suitable assets to assess their viability.

Tritax Big Box REIT is a UK incorporated Real Estate Investment Trust focused on providing income and capital returns through investment in very large logistics warehouse assets (Big Box logistics) in the UK. It’s portfolio has a weighted average unexpired lease term of over 16 years and all tenants are part of a FTSE 100 group.