Urban Logistics REIT
Company Notes
Experienced team focused on active asset management
Urban Logistics REIT was launched in April 2016 when it raised just £12m in its IPO. Since launch the fund has undertaken numerous further placings and its market capitalisation now stands at £362m. It is managed by Richard Moffitt and Christopher Turner of Pacific Capital Partners Limited.
The fund invests in mid-box logistics buildings of up to 200,000 sq. ft. focused on the ‘last touch’ or ‘last mile’ step of the delivery process in the UK. It aims to deliver investment returns through both income and capital growth generated through active asset management. It targets a total return of 10% to 15% per annum.
The focus is on smaller-sized single-let properties rather than multi-let industrial estates. The acquisition strategy targets assets with net initial yields of 6.0% to 7.5% and affordable underlying rents in the region of £4.50 to £5.50 per sq. ft. Asset selection is central to the investment strategy to ensure that the right assets are purchased at the right price and that there are opportunities for the managers to add value through their active asset management approach.
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