London (February 1, 2021) – BentallGreenOak has exchanged contracts to acquire a portfolio of 7 well- located, high-quality logistics assets from funds managed by Morgan Stanley Real Estate Investing. The portfolio totals 2,180,000 sq. ft / 202,213 sqm of space which is currently 81% leased to market leading tenants such as Sainsburys, British Gas, DSV and Clipper on core logistics parks including Magna Park, Lutterworth, D.I.R.F.T, Hams Hall and Warth Park. The purchase price reflects a stabilised yield of more than 5.25% and the transaction is expected to complete in March.
The acquisition continues BentallGreenOak’s strategy of acquiring or developing the highest quality logistics assets in core, proven locations that will benefit from the continued growth in occupational demand, fuelled but further ecommerce activity.
Morgan Stanley Real Estate Investing was advised by CBRE and BCLP, BentallGreenOak by JLL and Taylor Wessing.
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $50 billion USD of assets under management (as of September 30, 2020) and expertise in the asset management of office, logistics, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients.
In Europe, BentallGreenOak is a leading investment manager with over 50 professionals and $5.2 billion USD in AUM across debt and equity, with strategies spanning from Core to Value-Add and Development, with its own internalised operating capability. The firm has acquired or developed over 133 logistics assets comprising 4.8 million square meters (52 million square feet) since 2015. BentallGreenOak’s investment vehicles have assembled a large and diversified land bank across Europe, currently owning or controlling 4.4 million square meters of land (capable of building 2.2 million square meters of space) zoned for Logistics, Data Centers and Cold Storage.
BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
Vice President, Corporate Communications