Urban Logistics REIT PLC - London-based logistics-focused real estate investment trust - Exchanges contracts to sell portfolio of five assets for GBP30.0 million to a joint venture between the Carlyle Group and ARA Dunedin. The assets are located in Bedford, Leicester, Chesterfield and Northampton, where it has sold two warehouses. Says completion is expected on April 21, and it has undertaken extensive asset management with new rents and lease terms agreed across all sites.
"Since we started out on our journey in 2016, we have achieved considerable success creating, then realising value across our portfolio once available asset management initiatives have been completed. This deal is the latest example of our proven track record of value creation. The funds realised from these sales will be quickly redeployed in acquiring further assets from our pipeline," says Chief Executive Richard Moffitt.
Current stock price: 148.84 pence
Year-to-date change: up 4.1%
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Urban Logistics (SHED)