UK-listed multi-let industrial (MLI) property company Industrials REIT has sold its interest in a German care home joint venture.
The deal completes Industrials REIT’s five-year transition to become a 100% UK MLI business, with the company now operating over seven million square feet of MLI assets located around towns and cities in England, Scotland and Wales.
Net proceeds from the exit totalled £15.6 million (€17.8 million), which the company will use to fund further MLI acquisitions in the UK.
Paul Arenson, CEO of Industrials REIT, said: “The sale of our German care home interest is a significant milestone, being the final non MLI investment remaining in our portfolio. It means we are fully focused on our UK MLI business following a £600 million plus five-year disposal programme. Our goal now is to continue scaling our UK MLI platform.”
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