| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Tritax EuroBox sells to Logistics property in Poland for €65.5m
StockMarketWire.com
|
Real estate company Tritax EuroBox said it had agreed to sell its logistics property in Lodz, Poland for €65.5 million to clients of Savills Investment Management, for €65.5 million.
The sale was 15% above its most recent valuation at 30 September 2020 and represented a 4.95% gross initial yield, compared to a purchase cost of €55.0 million, which reflected a gross initial yield of 5.80%.
The sale delivered a geared internal rate of return of 16.5% to shareholders, above the company's long term target of 9% total return per annum.
The asset was originally acquired by the company in April 2019 and included a forward funding pre-let development opportunity to expand the existing site by a further 52,000sqm, which was completed in May 2019.
At 8:28am: (LON:EBOX) Tritax Eurobox Plc Ord Eur0.01 Gbp share price was 0p at 93.8p
Story provided by StockMarketWire.com
|
|
|
|
|
|
