StockMarketWire.com - Logistics real estate investor Tritax EuroBox said it had agreed to acquire for an asset in the Port of Gothenburg in Sweden for SEK474 million (€471 million).

The asset had comprised of two purpose built logistics facilities and were fully let to the tenants Agility AB, Nordicon AB and Vink Essaplast Group AB, generating a total annual rent of SEK18.04 million (€1.79 million) on leases with a weighted average unexpired lease term of six years.

The acquisition price of SEK474 million reflected a net initial yield of 3.6% based on the income from the existing leases, with the opportunity to increase the yield to around 4.25% as the rental levels on the buildings are marked to market levels, the company said.






Story provided by StockMarketWire.com