TRITAX BIG BOX REIT ACQUIRES £350m DB SYMMETRY
Updated: Jul 24
Tritax Big Box REIT plc, the UK’s leading Investment company focused on Big Box logistics real estate, has acquired an 85% stake in db symmetry.
This deal brings together the UK’s largest portfolio of prime Big Box logistics assets and an unmatched portfolio of land and development opportunities, providing Tritax phased access to over 2,500 acres, of which 248 acres, or 3.8m sq ft, has planning consent for logistics use.
The company said the board, proposed director and manager identified opportunities to deliver around 38.2m sq ft of big-box assets across logistics locations in the UK.
Tritax said it believed that as a result of the scarcity of land at major logistics locations in the UK, the acquisition will provide a significant commercial and competitive advantage for the REIT.
Speaking about the transaction, Richard Bowen, managing director at db symmetry: “This deal sees the coming together of two very like-minded organisations. Our combined scale, sector-leading expertise and entrepreneurial approach will ensure that we will continue to provide our customers with the ultimate in flexible logistics property solutions. We look forward to seeing what the future holds.”