Segro sells warehouse portfolio for £241m
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SEGRO said it had sold a portfolio of UK big box warehouses for £241m to a fund advised by Morgan Stanley Real Estate Investing in joint venture with Thor Equities Group.
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The transaction was expected to complete by the end of the year, Segro said on Tuesday. The portfolio comprises seven stand-alone big box warehouses with a total floor space of 203,400 sq metres.
Chief executive Phil Redding said: proceeds of the sale would be recycled into Segro's existing and future development programme, including UK big box logistics parks developed using the Roxhill platform bought last year.