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Tritax EuroBox buys Swedish asset
17th Jan 2022 07:45
(Sharecast News) - Logistics real estate investment company Tritax EuroBox said it had bought land in Sweden and agreed to fund the development of a logistics asset for SEK 402m (£32m).
The investment reflected a net initial yield of 4% based on the income from a 12 month target rental guarantee of SEK 16.4m from completion of construction.
Tritax said it bought the asset, situated next to a development opportunity in Rosersberg in Sweden, in September 2021.
Construction was due to commence in June 2022, with practical completion targeted in May 2023, it added on Monday.
The investment reflected a net initial yield of 4% based on the income from a 12 month target rental guarantee of SEK 16.4m from completion of construction.
Tritax said it bought the asset, situated next to a development opportunity in Rosersberg in Sweden, in September 2021.
Construction was due to commence in June 2022, with practical completion targeted in May 2023, it added on Monday.