Segro completes acquisition of French assets

Segro, the industrial property specialist, has completed the acquisition of a portfolio of eight French logistics assets from Foncire Europe Logistique, a subsidiary of Foncire des Rgions.

The firm paid €160.8m (£129.7m) in exchange for 13 buildings, which are 10 years old on average, totalling approximately 255,000 sq m of lettable space and currently generating €14.2m (£11.5m) of annualised rental income.

Chief Investment Officer, Phil Redding, said: "This acquisition significantly enhances SEGRO's existing platform in the Ile de France region and in Lyon and marks another positive step forward with our strategy to expand our portfolio of high quality logistics assets located in the strongest markets."

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.