Urban Logistics in advanced talks to secure £146m of logistics assets

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The REIT, which is focused on the urban logistics real estate sector and invests in smaller, single let units, revealed that its portfolio manager Pacific Capital Partners was close to sealing deals for three portfolios and an additional 12 assets.

The three portfolios and assets within have a weighted average unexpired lease term of approximately 7.8 years. They are expected to have a weighted average net initial yield of approximately 6.8%.

Urban Logistics added that its total asset pipeline potentially stands at £300m by value, with preliminary discussions underway for further properties with an aggregate deal value of more than £150m.

In November, the REIT revealed in its interim results that its EPRA net asset value had climbed 12.4% to 145.20p per share in the six months to 30 September.

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