BentallGreenOak has exchanged contracts to acquire a portfolio of seven logistics assets in the UK from funds managed by Morgan Stanley Real Estate Investing.
The logistics portfolio totals 2,180,000 sq. ft / 202,213 sqm of space which is currently 81% leased to market leading tenants such as Sainsburys, British Gas, DSV and Clipper on core logistics parks including Magna Park, Lutterworth, D.I.R.F.T, Hams Hall and Warth Park.
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The purchase price reflects a stabilised yield of more than 5.25% and the transaction is expected to complete in March, said BentallGreenOak.
Morgan Stanley Real Estate Investing was advised by CBRE and BCLP, BentallGreenOak by JLL and Taylor Wessing.