LONDON (Alliance News) - Tritax Eurobox PLC said Wednesday that it has acquired a distribution centre near Barcelona, Spain, for EUR150 million.
The company, which invests in European logistics real estate assets, has acquired a distribution centre at Lliça d'Amunt, Barcelona, let to fashion retailer Mango. The deal reflects a net initial yield of 5.0%.
The property is let on a 30 year full repairing and insuring lease that commenced on December 20, 2016, reflecting an unexpired lease term of over 18 years to the first tenant break option in 2036, with further break options in 2039 and 2042.
Shares in Tritax Eurobox were down 0.2% at 105.00 pence each on Wednesday afternoon.
Tritax Eurobox (EBOX)