Oxenwood Real Estate buys U.K. logistics portfolio
Oxenwood Real Estate, in a joint venture with a Canadian institutional investor, has acquired a portfolio of prime logistics properties in the United Kingdom for £286 million ($367 million).
The seller was a joint venture between Lone Star and Anglesea Capital.
The Ultrabox portfolio comprises nine logistics assets, totaling 3.87 million square feet, located across the United Kingdom.
The acquisition increases the size of Oxenwood’s U.K. logistics portfolio to £430 million ($552 million). The transaction was partly funded by a £151 million ($194 million) loan from Wells Fargo.
European consumers are becoming accustomed to one-day delivery. The impact of technology combined with changing consumer habits means that increasing amounts of warehouse space is required across Europe, according to Savills’ Megatrends Logistics report.
According to Ecommerce