(Sharecast News) - Real estate investment trust Urban Logistics acquired nine new assets and a development site on Wednesday for a grand total of ?56.1m.
Urban Logistics snapped up the assets following its ?136.1m equity capital raising back in March for an average net initial yield of 6.3%.
The AIM-listed group also said it was in final negotiations to acquire another portfolio of assets in April.
As far as the Covid-19 pandemic was concerned, Urban Logistics said it had already received 93% of rents for the quarter ending 30 June and highlighted that its portfolio had a notable bias towards food and pharmaceuticals, consumer staples and other essential goods.
However, the group did note that four sites were not fully-operational as a result of the outbreak and was in the process of discussing a revised payment plan with one of the tenants.
As of 1330 BST, Urban Logistics shares were down 1.78% at 124.25p.
Urban Logistics (SHED)17 Apr 2024 09:37
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