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Warehouse REIT signs £18M portfolio deal; Montea buys Belgian logistics asset


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Warehouse REIT signs £18M portfolio deal; Montea buys Belgian logistics asset

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.


* Warehouse REIT plc agreed to acquire a 326,254-square-foot portfolio of seven industrial assets in the North West of England for about £18.3 million, at a net initial yield of 7%. The deal will take the company's assets under management to £167 million, according to a release.

* Atlantic Leaf Properties Ltd.'s wholly owned subsidiary, Trido Ltd., closed the roughly £11.4 million purchase of a distribution warehouse at Crewe Gates Industrial Estate, Crewe, from JCAM Commercial Real Estate Property XV Ltd. The property is leased until June 2027 on a current passing rent of £850,000 yearly.

* Custodian REIT Plc purchased the St Nicholas Gate Retail Park in Carlisle for £12.1 million, marking a net initial yield of 6.89%. The deal comprises six retail warehouse units totaling 73,690 square feet, 434 parking spaces and the reversionary interest in a 34,750-square-foot Asda supermarket.

In a separate filing, the company said it bought a 37,804-square-foot retail warehouse in Leicester for approximately £6.7 million, via the purchase of the entire issued share capital of BL (Leicester) Ltd. and its wholly owned subsidiaries. The deal for the asset, leased to Matalan, marks a net initial yield of 7.36%.

* Empiric Student Property Plc acquired the freehold of a 64-unit student housing property in Edinburgh, Scotland, for around £7.2 million, excluding costs. The University of Edinburgh is leasing the asset until March 2020 on an internal repairing lease.

* Civitas Social Housing PLC closed the acquisition of a portfolio comprising a freehold interest in seven specialist supported living assets with 21 tenancies in the East Midlands for a sum of £3.9 million. The assets are leased on a 25-year term to Trinity Housing Association.


* Peach Property Group AG signed a share deal to acquire a German real estate company which holds a portfolio of 172 residential units in Bochum. The transaction will grow Peach Property Group's residential portfolio to 6,944 units, totaling 445,280 square meters of lettable space.


* Montea Comm. VA acquired a logistics distribution center in Saintes from Immocass BVBA for a total investment value of €4.7 million. The asset contains 7,500 square meters of storage space and 1,000 square meters of office area and is leased to Noukies.


* Grivalia Properties REIC bought a stand-alone retail asset on 152 Charilaou Trikoupi St. in Nea Erythraia for approximately €2.7 million. The asset contains approximately 930 square meters of space and is fully let to a multinational clothing retailer.


* TK Development AS sold a 6,100-square-meter residential project comprising 78 rental apartments at Østre Havn in Aalborg to Wagner Ejendomme ApS for 161.3 million Danish kroner. Construction on the 10-story asset will begin in the second quarter of 2018, with completion scheduled for Oct. 1, 2019.

Additional coverage

UK student accommodation portfolio changes hands for £869M

European property fund, partner close €210M German portfolio sale

Atrium Ljungberg signs 977M-Swedish-kronor agreement to sell retail hub

Investis buying Swiss real estate company for CHF 108M

Citycon pays €60M for 2nd part of Copenhagen shopping center

Anusha Iyer contributed to this report.

As of Dec. 21, US$1 was equivalent to 6.27 Danish kroner.