Tritax EuroBox makes second investment, buys asset in Rome for €118m

Tritax EuroBox has made its second investment with the acquisition of a regional fulfilment centre in Passo Corese, Rome for €118m.

The continental European logistics properties investor acquired the new purpose-built 158,000sqm centre from UK REIT Segro.

The property is let on a 15-year full repairing and insuring lease that commenced on 7 August 2017.

Nick Preston, the fund manager of Tritax EuroBox, said: “We are delighted to announce the second investment for Tritax EuroBox, with the acquisition of this regional fulfilment centre, which provides the Company with 14 years of core foundation income, let at a market level to a world-leading online retail company.”

In July, Tritax EuroBox achieved its £300m (€341.1m) fundraising target in an initial public offering on the London Stock Exchange and join the stock trading platform.

Tritax EuroBox made its first investment last month with the acquisition of a global distribution centre in Spain for €150m.

Phil Redding, the CCIO of Segro, said: “Having developed and delivered this state-of-the-art facility for one of our key customers, the largest Segro has ever developed, we have taken the opportunity to sell the asset to capitalise on very strong demand from a wide range of international investors.”