Segro completes acquisition of French assets

published 19 September 2012

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."