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Segro to buy six Tritax EuroBox properties for $499 million
Real Estate

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.

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.

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Infrastructure Urban

Uttar Pradesh Opens First Bio-CNG Plant at Naini

In a major step towards sustainable waste management and environmental conservation, Uttar Pradesh inaugurated its first bio-CNG plant at Arail in Naini on Wednesday.On its opening day, the Prayagraj Municipal Corporation delivered approximately 20 tonnes of organic wet waste—mainly from kitchens and restaurants—for processing, officials said.Project head Himanshu Srivastava noted that in the coming weeks, the state’s first such plant will handle up to 100 tonnes of organic waste daily. All wet waste generated in Prayagraj will now be directed here, ensuring efficient processing and reso..

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Infrastructure Transport

Gujarat CM Reviews Rs 117 Billion Projects in Tourism and Infrastructure

Gujarat Chief Minister Bhupendra Patel reviewed 12 development projects worth Rs 117.35 billion, focusing on tourism, metro rail, and industrial infrastructure.The review included Rs 41.84 billion allocated to tourism initiatives such as the holistic development of Ambaji, restoration of the Mahakali Mata Temple in Pavagadh, mangrove and creek conservation along the coast, and transforming Mokarsagar in Porbandar into a tourism hub. Projects assessed also covered the Dwarka Corridor, enhancements of Shivrajpur and Somnath beaches, and new tourist facilities at Kantharpur Mahakali Vad and Dharo..

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Infrastructure Urban

Nimtala Ghat in Calcutta Set for Heritage Renovation and Beautification

Nimtala Ghat — one of Calcutta’s oldest ghats on the banks of the Hooghly River — will undergo renovation and beautification.Calcutta Port signed a memorandum of understanding (MoU) with city-based real estate group PS on Wednesday to carry out the project. The initiative includes repairing the steps of the ghat, which sees thousands of Durga idols immersed during Puja, relaying pathways, installing proper lighting, and landscaping the surrounding area, senior officials said.“A French company will oversee the plan to revamp the ghat while respecting its heritage,” said Saurav Dugar, ..

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