LONDON (Alliance News) - Real estate investment trust Tritax Eurobox PLC said on Thursday it has entered an agreement to acquire several assets in Continental Europe for up to EUR550 million.
Investment adviser Tritax Management LLP has entered into exclusivity arrangements for Tritax Eurobox to acquire eight assets in Germany, Italy, Spain, Poland and Belgium, collectively worth EUR550 million.
Each asset has an average size of 85,000 square metres, a weighted average unexpired lease term of 12.4 years, and a weighted average yield of 5.0%.
The assets comprise seven standing assets and one forward funded development.
Shares in Tritax Eurobox were up 0.8% at 105.29 pence on Thursday.