Tritax Management, the investor in supply chain real assets, has completed its first acquisition on behalf of a £500 mln (€565 mln) vehicle targeting high-quality UK logistics assets.
The company revealed it had recently been appointed on behalf of a global investor to build a bespoke portfolio of income-producing assets with a ‘resilient occupier base in strong industrial locations’, primarily in Greater London and the South-East. The mandate seeks to capitalise on significant pricing realignment in the UK logistics supply chain since Q2 2022.
Since being awarded the mandate, the company has completed the maiden deal - Union Park in Leighton Buzzard, a 165,000 ft2 multi-let urban logistics estate built in 2021.
The mandate is being seen as vindication of a transaction when Abrdn announced it would acquire a 60% stake in Tritax. At the time of the deal at the end of 2020, Tritax had among its mandates two of Europe’s leading listed industrial logistics funds, Tritax Big Box REIT plc and Tritax EuroBox plc.
Neil Slater, global head of real assets at abrdn, said: ‘abrdn’s investment in Tritax was all about creating opportunities for clients. This is it in action.’
'It is fantastic to see this first deal over the line. This is an exciting mandate for this juncture in the market cycle.'
