Morgan Stanley and Thor Equities Group completed the acquisition of the UK big box warehouses portfolio from SEGRO for £241m.

Morgan Stanley and Thor Equities Group, a global firm in urban real estate development, leasing and management, completed the acquisition of the UK big box warehouses portfolio from SEGRO, a UK REIT, for £241m ($318m). “The sale of these assets marks the end of a successful period of ownership by SEGRO, generating a blended ungeared IRR since acquisition of approximately 11%. The proceeds will be recycled into our existing and future development programme, including UK big box logistics parks developed using the Roxhill platform which we acquired last year,” Phil Redding, SEGRO Chief Investment Officer.