Schroder Eur Real Est Inv Trust PLC Completion of acquisitions (6096B)
September 25 2018 - 2:00AM
UK Regulatory
TIDMSERE
RNS Number : 6096B
Schroder Eur Real Est Inv Trust PLC
25 September 2018
25 September 2018
Completion of acquisitions
Schroder European Real Estate Investment Trust plc ("SERE" or
the "Company"), the company investing in European growth cities,
has completed the purchase, in separate transactions, of three
Netherlands industrial assets, for EUR19.8 million, reflecting a
combined net initial yield of 6.5%, as announced on 21 August
2018.
SERE's portfolio currently comprises 12 properties with a value
of approximately EUR222 million. The portfolio will generate
contracted rents of EUR16.1 million with an average unexpired lease
term to first break and expiry of 5.1 years and 6.7 years (per end
of June 2018). The acquisitions provide further sector
diversification, with the portfolio having the following
allocations; 49% office, 29% retail, 13% industrial and 9% mixed
use. Following these acquisitions, SERE has a remaining investment
capacity of approximately EUR15 million.
Enquiries:
Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa Tel: 020 3727 1000
FTI Consulting
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END
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