Frasers Logistics & Commercial Trust is announcing the acquisition of several European logistic properties:
- One large British asset, close to Birmingham, comprising 5 logistic warehouses and an adjacent business park (Blythe Valley park, 16 buildings) and 3 hectare of land available for further developments
- Three German properties, around Frankfurt and Mannheim
- One Dutch property
All properties are freehold, and leased with a combined 97.4% occupancy rate. Total price is about S$548.7 million. The manager expects the transaction to be both NAV and DPU accretive.
In order to fund the operation, the trust has done a private placement, raising S$335.8 million by placing 240 million new shares at a price of S$1.399.