Cain enters U.K. logistics market with €661m buy

Firethorn Trust has exchanged contracts to sell its U.K. logistics assets for £550 million (€661 million/$733 million) to Cain International.

The class A logistics portfolio comprises seven U.K. sites, totaling 3.25 million square feet across 22 assets, including two newly built developments, and five consented land sites that are on course for completion in 2022 and first half 2023.

The acquisition represents Cain’s entry into the U.K. logistics market. As part of the transaction, Firethorn Trust will develop the remaining sites and act as leasing and asset manager across the portfolio on behalf of Cain International.

“We have created a strong logistics warehousing pipeline over the last three years in very good accessible locations throughout the United Kingdom,” said Peter Mather and Chris Webb, founding partners of Firethorn Trust. “With a primary focus on developing high-quality, Grade A, sustainable warehousing solutions, our sites are attractin