27 March 2018
Warehouse REIT plc
(the 'Company' or 'Warehouse REIT')
COMPLETION OF THE ACQUISITION OF INDUSTIRAL MULTI PROPERTY TRUST PORTFOLIO
Further to the announcement of February 5 2018, Warehouse REIT, the AIM-listed specialist warehouse investor, confirms that it has completed the acquisition from Hansteen Holdings PLC of its Industrial Multi Property Trust portfolio, comprising 51 assets, the majority being multi-let UK urban warehouses, for £116 million. As also stated, the acquisition is in line with the Company's strategy and concludes the successful deployment of all funds raised by the Company at IPO in September 2017, significantly ahead of plan, and brings the total property acquisitions to date to £279 million.
-ENDS-
Enquiries:
Warehouse REIT plc via FTI Consulting
Tilstone Partners Limited Andrew Bird, Paul Makin | 44 (0) 1244 470 090 |
Savills (Property Advisor) Simon Hope / Peter Cooper-Parry G10 Capital Limited (part of the Lawson Conner Group), acting as AIFM Agnese Soldane, Gerhard Grueter | 44 (0) 20 7499 8644
44 (0) 20 3696 1302 |
Peel Hunt (Financial Adviser, Nominated Adviser and Broker) Capel Irwin, Harry Nicholas | 44 (0)20 7418 8900
|
FTI Consulting (Financial PR & IR Adviser to the Company) Dido Laurimore, Ellie Sweeney, Richard Gotla | 44 (0) 20 3727 1000 |
Further information on Warehouse REIT is available on its website:
http://www.warehousereitplc.co.uk
Notes to editors:
Warehouse REIT announced the results of its IPO on 15 September, having raised gross proceeds of £150 million (£146.8 million net) to invest in a diversified portfolio of UK warehouse assets located in urban areas.
Occupier demand for urban warehouse space is increasing as the structural growth in e-commerce has driven the rise in internet shopping and investment by retailers in the "last mile" delivery sector. The urban warehouse sector offers one of, if not the highest, initial yield of all UK property sectors.
The Company is an alternative investment fund ("AIF") for the purposes of the AIFM Directive and as such is required to have an investment manager who is duly authorised to undertake the role of an alternative investment fund manager. The Investment Manager is currently G10 Capital Limited, whose role will pass to Tilstone Partners Limited ("TPL"), on receipt of FCA approval.
This information is provided by RNS