London-listed Tritax EuroBox has made its fifth investment with the acquisition of a logistics warehouse in Germany for €81.6m.
The continental European logistics real estate investor said the newly built logistics warehouse at Peine, is let to Action Logistics Germany for 11-years with three further five-year renewal options.
The property has a gross internal area of 92,454sqm.
Tritax EuroBox said this acquisition is the first for the company arising from its relationship with Dietz AG, where the company uses Dietz as asset manager in Germany and also has access to the Dietz development pipeline.
Dietz has retained a small interest in the acquired asset, it said.
Nick Preston, the fund manager of Tritax EuroBox, said: “This is our fifth investment for Tritax EuroBox plc since IPO in July 2018, bringing the total amount invested to over €440m.
“This off-market acquisition at an attractive yield of a brand new, purpose-built asset, is in a prime logistics location in Germany that benefits from excellent transport connectivity and strong supply/demand fundamentals.”