Tritax EuroBox plc which invests in Continental European logistics real estate assets, has acquired a prime logistics property near Frankfurt in Germany for €50.6 million, reflecting a net initial yield of 4.75% on the corporate acquisition.
”We are delighted with our ninth investment for Tritax EuroBox plc, bringing our total amount invested to over €600 million. This off-market acquisition of a brand new, well specified, purpose-built big box logistics asset is in a prime logistics location in Germany that benefits from excellent transport and infrastructure connectivity and strong supply/demand fundamentals. We expect this property to generate an attractive income return with good income growth potential. This is our third investment through our relationship with Dietz, which demonstrates the high-quality of their development assets in prime locations,” said Nick Preston, Fund Manager of Tritax EuroBox.
Developed by Dietz AG, the logistcis property is located in Hammersbach, near Frankfurt, benefits from exceptional logistics links and has high occupier demand, a low vacancy rate and limited availability both of logistics buildings and land for development.
The logistics asset is fully let to ID Logistics, an international contract logistics group and listed on Euronext Paris with approximately 300 sites worldwide across 17 countries.