logo
Plus   Neg
Share
Email

SEGRO Announces Sale Of Seven UK Big Box Warehouses - Quick Facts

SEGRO plc (SGRO.L) has exchanged contracts to sell a portfolio of UK big box warehouses for 241 million pounds to a fund advised by Morgan Stanley Real Estate Investing. The portfolio comprises seven stand-alone big box warehouses.

Phil Redding, Chief Investment Officer of SEGRO, said: "The sale of these assets generated a blended ungeared IRR since acquisition of approximately 11 percent. The proceeds will be recycled into our existing and future development programme, including UK big box logistics parks developed using the Roxhill platform which we acquired last year."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
RELATED NEWS
Follow RTT
>