SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (SELP) joint venture, has announced, on behalf of SELP, the disposal of a portfolio of logistics warehouses in Italy. The total cash consideration for the disposal was €327 million ($357 million).
The portfolio consists of four warehouses, two located in Milan and two in Rome, and has a total floor space of 338,745 square meters (3.7 million square feet). All of the warehouses were developed by Vailog SEGRO and the portfolio is fully leased to three different customers active in the online and traditional retail sectors. The portfolio generates a passing rent of €19 million ($21 million) and has an average weighted unexpired lease term (WAULT) of 10.5 years.
“We developed and delivered these modern, highly sustainable warehouses for some of our largest customers in Italy to support their expansion plans. This disposal has enabled us to divest some assets with long-leases and limited
