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Segro, Moorfield Partner on $410M Logistics Buy

LONDON-The companies have agreed to purchase the 15-property UK Logistics Fund, mostly scattered in the area south of London.

By Robert Carr | Updated on December 23, 2011

LONDON-Locally-based Segro, a REIT, and Moorfield Real Estate Fund II have partnered in an agreement to buy the 15-property UK Logistics Fund for $410 million. The sites are set to be transferred in January from Hermes Real Estate Investment Management Ltd., Legal & General and LaSalle Investment Management.

The portfolio is spread across 12 locations in the United Kingdom, with 64% of the 4.3-million-square-feet located in the south of England. The properties include Western Approach in Avonmouth, Bicester Distribution Park in Bicester, Birmingham Mail Centre in Birmingham, Bardon in Leicestershire, Dirft in Daventry, Hatfield Business Park in Hatfield, Rye Park Depot in Hoddesdon, Snodland in Maidstone, Keypoint Distribution Park in Swindon and Tunnel Avenue in West Thurrock.

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