Segro European Logistics partnership acquires €66.6 mln logistics warehouse (DE)

SEGRO plc announces that SEGRO European Logistics Partnership (‘SELP’) has acquired a newly-developed logistics facility in Krefeld, Düsseldorf for €66.6 mln from Habacker Property 32 GmbH & Co KG which developed the facility, and DSV Road GmbH, the international logistics transport services provider, which occupies it.
The purchase price represents an EPRA topped-up net initial yield of 6.4 per cent on expiry of rent-free periods, from a 4.7 % net initial yield on acquisition.
The facility contains a total floor area of 78,300 m², comprising 58,700 m² of standard warehouse space, a 13,000 m² cross-dock facility and a 6,600 m² office. DSV has entered a 10 year lease (term certain) to occupy the entire facility, consolidating five existing locations into a single, modern headquarters campus. In addition, DSV has an option to expand the cross-dock facility by 5,000 m².
Source: Segro