Tritax to acquire Warehouse Reit for £485.2m.

Tritax, a real estate investment trust that focuses on acquiring, managing, and developing large-scale logistics real estate throughout the UK, agreed to acquire Warehouse Reit, a real estate investment trust with a portfolio and investment strategy focusing on urban warehouses, for £485.2m. "This transaction delivers value accretion to both BBOX and Warehouse Shareholders driven by immediate cost synergies, rental reversion and strong structural drivers supporting valuation and income growth in urban and big box logistics. The Board of BBOX is delighted to be able to offer Warehouse Shareholders the opportunity to be invested in the upside potential of the UK's leading listed logistics real estate portfolio, whilst also providing the certainty of a partial cash offer. The Tritax Manager is well placed to integrate the Warehouse portfolio, and capture the significant reversion, by bringing to bear its broad based and highly relevant asset management expertise, including in multi-let industrial logistics," Aubrey Adams, BBOX Chair.