Blackstone’s European logistics platform Logicor has bought a portfolio of industrial properties in the UK for £153.3m (€195m).
Listed investor Segro said it had sold the portfolio six logistics properties and one warehouse property at 3% above its June book value.
The portfolio, which is fully let, generates £9.3m in annualised net rent, rising to £11.2m once rent-free periods and fixed uplifts over the next five years are taken into account.
The 185,331sqm portfolio is located in Bardon, Bicester, Maidstone, Sheffield and Swindon.
Phil Redding, Segro CIO, said the sale was part of the company’s long-term focus on “major logistics hubs and corridors in the UK and Continental Europe”.
In May, Logicor paid €118.2m for a Polish logistics portfolio sold by Standard Life’s Select Property Fund.
Standard Life sold the portfolio as it focuses more on the office and retail sectors, while Logicor sees potential in Poland and Central and Eastern Europe.
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