Segro to buy six Tritax EuroBox properties for $499 million
Tritax EuroBox properties in Germany and the Netherlands for 470 million euros ($499.1 million) as part of a deal with Brookfield Asset Management Ltd. Segro's purchase comes weeks after the Canadian asset manager outbid the London-based warehousing specialist in the race to buy Tritax EuroBox in a 1.1 billion pound ($1.41 billion) deal, including debt. Segro said that the non-binding agreement with Brookfield is conditional on the completion of the asset manager's acquisition of Tritax EuroBox. British-listed commercial real estate companies have witnessed a flurry of deals this year including the $1.2 billion purchase of UK Commercial Property by Tritax Big Box, and LondonMetric's deal for LXI. European logistics, including warehouses, have been a bright spot in a struggling commercial real estate market, as the boom in e-commerce creates demand for more space. Private equity giant Blackstone in September agreed to buy an 80% stake in a European warehouse portfolio run by landlord Burstone.
Related Stories
Arkade Buys MMR Land Parcel for Rs 1.48 Billion
Firm acquires 14,364 sq m in Bhandup through Rs 1.48 billion deal.
Tathastu to Invest Rs 2 Billion in Rewari Retail Project
Rs 2 billion high-street retail project with 1,200 shops planned
Page {{currentPage}} of {{pageCount}}
{{#products}}
{{copy}}