Last checked at 1 Feb 2012 07:00
DATE: 1 February 2012
Acquisition of the UK Logistics Fund
Further to the announcement of 19 December 2011, SEGRO and Moorfield Real Estate Fund II (MREF II) are pleased to announce that their recently established UK Logistics (Jersey) Limited Partnership joint venture has now completed its acquisition of the UK Logistics Fund ("UKLF") from Hermes Real Estate Investment Management Limited, Legal & General and LaSalle Investment Management.
As part of its strategic review in November 2011, SEGRO announced that it would focus its portfolio on the highest quality assets in the strongest markets, including an intention to expand its portfolio of logistics assets under management. The completion of the UKLF acquisition represents a positive step forward in the execution of this strategy.
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For more information, contact:
SEGRO | Justin Read(Finance Director) Kate Heseltine(Investor Relations Manager) | Tel: +44 (0) 207 451 9110 Tel: +44 (0)207 451 9042 |
Tulchan Communications | John Sunnucks / David Shriver | Tel: +44 (0) 20 7353 4200 |
About SEGRO: SEGRO is Europe's leading developer and owner of industrial space. The Group is a Real Estate Investment Trust (REIT), listed on the London Stock Exchange. SEGRO's portfolio comprises £5.4 billion of predominantly industrial and warehouse assets concentrated in and around major business centres and transportation hubs such as ports, airports and motorway intersections. SEGRO currently has £930 million of logistic assets under management in the UK, Germany, France, Benelux, Poland and the Czech Republic. The Group serves over 1,600 customers spread across many geographies and different industry sectors. It has 5.5 million sq m of built space and a passing rent roll of £340 million. (Figures all as at 30 June 2011). For further information see www.SEGRO.com
About Moorfield:Moorfield Group (Moorfield) is a UK real estate and related private equity fund manager and investor with some £2.5 billion of assets and geared cash under management through the Moorfield Real Estate Funds (MREFs). Moorfield directly acquires single or multiple assets, or indirectly invests through corporate vehicles, including joint ventures. Moorfield supports entrepreneurial management teams that want to grow their real estate businesses or that want to take specific advantage of market circumstances. Moorfield also provides mezzanine and structured finance solutions where appropriate as well as acquiring debt whether related to single asset, multiple asset or corporate structures. For further information, visit: www.moorfield.com.