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Urban Logistics REIT PLC - London-based logistics-focused real estate investment trust - Acquires three logistics assets for a total of GBP22.9 million, using cash from its recent equity raise. Assets are located in Huntingdon, Northampton and Fareham, in the Midlands and South East of England. The Huntingdon warehouse was acquired for GBP2.1 million, will be refurbished for GBP4.6 million, due to be completed in May 2021 and will be let to an unnamed "multinational delivery services company" on a 15-year lease. The Northampton distribution unit was acquired for GBP5.2 million at a 5.8% net interest yield, and is let to Trans Global Freight Management Ltd until 2030. The Fareham distribution unit was acquired for GBP10.9 million at a 6.0% net interest yield and is let to Amazon.com Inc until 2025. Urban Logistics raised just over GBP92 million in a share placing and offers.
Current stock price: 143.50 pence
Year-to-date change: down 1.1%
By Zoe Wickens; zoewickens@alliancenews.com
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