Tritax Big Box REIT plc

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Tritax Big Box REIT
Date: May 2024
Deal size: £924m acquisition of UK Commercial Property REIT
About the client: Tritax Big Box REIT is the largest listed investor in high-quality logistics warehouse assets and controls the largest logistics-focused land platform in the UK – advised by Akur since 2013
About the transaction: Akur advised Tritax Big Box REIT on its all-share acquisition of UK Commercial Property REIT Limited, undertaken via a Scheme of Arrangement on a NAV-for-NAV basis, creating the fourth largest REIT in the UK, with a combined net asset value (EPRA NTA) of approximately £4.4 billion.

As a result of the acquisition, the Company is able to offer customers a broader range of logistics property sizes, locations and tenant uses from “Mega-Boxes” to smaller, strategically located, logistics assets within key urban locations, while creating value from the recycling of capital from non-logistics assets acquired via the transaction into its development pipeline of best-in-class logistics assets.
Lead: Anthony Richardson
Ardian

 

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Chris Young…

Chris is focused on listed closed-ended funds, specialising in both equity and debt capital fundraising. He has over 16 years’ experience in both sales and research. With relationships across many of the large institutional investors in the sector, he has worked across IPOs, secondary fundraisings, placings and sales. He began his career in the City as an investment funds analyst at Credit Lyonnais in 1999, and has subsequently held positions at Lazard Panmure Gordon, Arbuthnot Securities, and most recently as a specialist salesman within the investment funds team at Westhouse Securities. He is focused on private and public real estate and REITs, infrastructure and utilities, emerging markets, private equity and alternatives. Tel: +44 (0) 20 3780 8746 Mob: +44 (0) 7471 141 303 Email: cyoung@akur.co.uk