Segro, the UK and Paris-listed industrial property investment and development company, is reportedly in talks to acquire the majority of the EUR 750 mln pan-European industrial portfolio owned by Industrial Securities, a subsidiary of the Marcol Group.

Segro, the UK and Paris-listed industrial property investment and development company, is reportedly in talks to acquire the majority of the EUR 750 mln pan-European industrial portfolio owned by Industrial Securities, a subsidiary of the Marcol Group.

UK real estate publication PropertyWeek said on Friday that Segro was understood to have bid in the summer for the entire 650,000 m2 portfolio that comprises 70 properties in France, Germany and the Benelux. The portfolio provides an annual rent of EUR 45 mln. PropertyWeek said Segro has modified its bid to focus on the best properties following the fall in investment volumes brought on by the credit crisis. A spokesperson for Segro declined to comment on the report.

In August, Segro completed a EUR 2 bn sell-off of its US operations to allow it to focus on the UK and expansion in the rest of Europe. The company owns properties across the Continent and has existing and future projects worth EUR 881 mln.

Segro's total property assets are worth EUR 7.3 bn, and generate a gross annual rental income of EUR 285 mln.