(Alliance News) - Segro PLC will be GBP65 million better off after sealing a UK industrial property swap deal with Schroders PLC.
Under the terms of the deal, Segro bought the Matrix Park warehouse asset in Park Royal, London from Schroders for GBP140 million. The 256,000 square feet property is fully-let.
Schroders, meanwhile, purchased a Segro portfolio of portfolio of UK big box and urban assets for GBP205 million.
"The balance of GBP65 million has been paid by Schroders to Segro," Segro said.
Schroders shares were 0.5% lower at 3,529.00 pence each in London on Monday morning. Segro's stock was down 1.1% at 1,193.50p.
By Eric Cunha; ericcunha@alliancenews.com
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