Tritax EuroBox is funding the development of a €118m warehouse project in the Rhine-Ruhr region in Germany.

Tritax, which invests in logistics real estate across continental Europe, said it has acquired land and will fund the development of the pre-let asset.

The property will comprise a single building with a total gross internal area of 66,065sqm comprising six purpose-built logistics units located in the heart of the prime logistics location in the Rhine-Ruhr region.

The development is expected to be completed in February 2023.

This acquisition forms part of the deployment strategy for Tritax EuroBox following the successful equity raise in September, the company said.

Alina Iorgulescu, assistant fund manager of Tritax EuroBox, said this is the tenth German investment in the Tritax EuroBox portfolio, “bringing our total amount invested in the country to just over €700m, providing significant critical mass in the most important logistics market in Europe”.

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