StockMarketWire.com - Property investor Segro said it had exited the Belgium market via the €83.4m sale of four warehouse assets to an undisclosed buyer.

The company said the assets were sold by the Segro European Logistics Partnership joint venture, of which it owned 50%.

The company's share of the sale proceeds was therefore €41.7m.

The sale price equated to a net initial yield to Segro on the land and assets of 4.7%.

'This disposal successfully concludes Segro and SELP's presence in Belgium, at a modest premium to book value, in line with Segro's strategy to exit markets where it does not have, or does not expect to achieve, a scale position,' the company said.




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