US-listed net lease real estate investment trust WP Carey has invested £141m (€162m) to buy a UK logistics facility developed by Prologis.
WP Carey said it has acquired the 100,000sqm asset in Solihull, leased to automotive company Jaguar Land Rover for 30 years.
Gino Sabatini, head of investments at WP Carey said: “We are thrilled to build on our year-to-date acquisition momentum and add another high-quality logistics asset to our portfolio.
“Since opening our London office in 1998 and completing our first investment in the UK in 1999, we have continued to grow our market expertise and reputation as a reliable partner for companies and developers alike.”
Karolis Adlis, senior VP and part of the investments team at WP Carey said: “Driven by the rapid growth in e-commerce and fulfilment needs, demand for UK logistics assets continues to exceed supply.
“As such, we are thrilled to announce our acquisition of this bespoke, Class-A facility built to high environmental and operational standards on an attractive basis.”
To read the digital edition of the latest IPE Real Assets magazine click here.
