LONDON (Alliance News) - Tritax EuroBox PLC said Tuesday it acquired a new logistics warehouse near Hannover, Germany, for EUR81.6 million.
The warehouse is let to Action Logistics Germany GmbH, a subsidiary of Action BV, a European non-food discount retailer.
The lease covers an 11-year term with three five-year renewal options.
Tritax EuroBox Fund Manager Nick Preston said: "This is our fifth investment for Tritax EuroBox since IPO in July 2018, bringing the total amount invested to over EUR440 million.
"This off-market acquisition at an attractive yield of a brand new, purpose-built asset, is in a prime logistics location in Germany that benefits from excellent transport connectivity and strong supply/demand fundamentals."
Tritax EuroBox shares were trading down 0.1% at 99.92 pence each.
Tritax Eurobox (EBOX)