Thor Equities Group to acquire UK logistics portfolio
Thor Equities Group, a global leader in urban real estate development, leasing and management, has signed a contract in partnership with a fund advised by Morgan Stanley Real Estate Investing to acquire the Tudor Portfolio from SEGRO for GBP241 million.
The high-quality, core portfolio, comprised of seven logistics properties in Grade A locations throughout the UK, totals 2.2-million square feet. Of the seven assets, six sites are located within the Golden Triangle, in prime logistics parks, such as DIRFT, Magna Park and Hams Hall, with the final site in Hoddesdon, approximately 15 miles North of London. The portfolio boasts a strong and well diversified roster of tenants including global logistics companies: DHL, DSV, and Clipper Logistics as well as British Gas, Turkish appliance manufacturer Beko, and British supermarket chain, Sainsbury‘s.
• Enfield/London: 445,118 square foot asset
• Magna Park: 411,868 square foot asset
• Warth Park: 412,798 square foot asset
• Dirft: 301,566 square foot asset
• Burton: 303,048 square foot asset
• Leicester: 157,986 square foot asset
• Birmingham: 160,712 square foot asset
“The Tudor Portfolio offers a tremendous opportunity for Thor to expand our logistics platform and further establish our presence in Europe,” says Chairman of Thor Equities Group, Joe Sitt. “We are pleased to partner with Morgan Stanley on this strategic acquisition and sustain our growth strategy abroad.”
“The Tudor portfolio acquisition demonstrates our commitment to building a robust global platform. The UK currently presents a good value opportunity, as we look forward to continue growing a portfolio in the South East and Midlands markets with a great partner.” says Managing Director of European Acquisitions, David Hunt-Cuadrado.