Tritax Big Box REIT plc

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Tritax Big Box REIT plc
Date: February 2019
Deal Size: £250m equity fundraising and associated £370m acquisition of db Symmetry
About the client: Tritax Big Box REIT is a leader in the UK and the first listed entity to give pure exposure to the Big Box asset class
About the transaction: The fundraise (which was significantly over-subscribed) was conducted to fund the acquisition of db Symmetry, a Big Box developer with a total land portfolio of over 2,500 acres which is estimated to be able to deliver over 38m sq. ft. of new Big Box and logistics assets in the UK.

The portfolio is expected to contribute materially to the Company’s ability to continue to deliver strong earnings growth, the assets are targeting an average yield on cost of 7-8%, whereas at the time of acquisition the Company’s valuation yield was 4.4%.
Lead: Anthony Richardson
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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