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Tritax EuroBox PLC - logistics real estate assets manager - Enters agreement to acquire land and provide forward funding for the development of a 13,181 square metres logistics property in a location north of Stockholm in Sweden for SEK284 million, around EUR27.9 million, reflecting a net initial yield of 4.2%.
Marks company's second acquisition in Sweden, and development will be undertaken by European real estate firm Verdion.
"We are delighted to acquire our second asset in Sweden, following the acquisition of the Gothenburg asset in June this year, building up our presence in this important market, which we expect to continue to perform well due to strong fundamentals. Tenant demand is strong and land supply is constrained in the prime markets in Sweden such as Stockholm and Gothenburg where we are investing," says Assistant Fund Manager Alina Iorgulescu.
Current stock price: 113.40 pence
Year-to-date change: up 15%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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