LONDON--Real estate investment trust Tritax Big Box REIT PLC
(BBOX.LN) Thursday announced that the acquisition of Tesco's
(TSCO.LN) distribution centre located at Barlborough Links,
Chesterfield, Derbyshire, for 28.6 million pounds, net of
acquisition costs, reflecting a net initial yield of 6.6%.
MAIN FACTS:
-Completion is expected to take place on March 17.
-Purchase will initially be funded out of equity proceeds, with
senior debt finance expected to be introduced in the near term.
-Distribution centre is being acquired with an unexpired lease
term of 6.2 years, which is subject to a five 5yearly open market
rent review in May 2015.
-Shares of Tritax Big Box at 1442 GMT up 0.12%, at 104 pence,
valuing the company at GBP208 million.
-Write to Tapan Panchal at tapan.panchal@wsj.com
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