SLOUGH (dpa-AFX) - Segro Plc (SGRO.L), a UK Real Estate Investment Trust, said Friday it has agreed to sell portfolio of six urban warehouses in Italy to AXA IM Alts for about 127.5 million euros, on behalf of clients.
The six warehouses, comprising a total floor space of 56,000 square metres, are located in Florence, Burago, Padua, Parma and Verona. These warehouse were developed by SEGRO-Vailog for a global online retail company to support the growth of its distribution network in Italy.
David Proctor, Managing Director, Group Investment at SEGRO, said, '...The warehouses within this portfolio are located outside our core markets so we have chosen to capitalise on buoyant market conditions to sell this portfolio at a price materially ahead of December 2020 book value. We will be recycling the capital into exciting opportunities in other parts of Italy.'
Copyright RTT News/dpa-AFX
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