In partnership with a fund advised by Morgan Stanley Real Estate Investing, Thor purchases seven assets in London and the Golden Triangle
Thor Equities Group, a global leader in urban real estate development, leasing and management, has signed a contract in partnership with a fund advised by Morgan Stanley Real Estate Investing to acquire the Tudor Portfolio from SEGRO for £241,000,000, company executives announced.
The high-quality, core portfolio, comprised of seven logistics properties in Grade A locations throughout the UK, totals 2.2-million square feet. Of the seven assets, six sites are located within the Golden Triangle, in prime logistics parks, such as DIRFT, Magna Park and Hams Hall, with the final site in Hoddesdon, approximately 15 miles North of London. The portfolio boasts a strong and well diversified roster of tenants including global logistics companies: DHL, DSV, and Clipper Logistics as well as British Gas, Turkish appliance manufacturer Beko, and British supermarket chain, Sainsbury‘s.
- Enfield/London: 445,118 square foot asset
- Magna Park: 411,868 square foot asset
- Warth Park: 412,798 square foot asset
- Dirft: 301,566 square foot asset
- Burton: 303,048 square foot asset
- Leicester: 157,986 square foot asset
- Birmingham: 160,712 square foot asset
“The Tudor Portfolio offers a tremendous opportunity for Thor to expand our logistics platform and further establish our presence in Europe,” said Chairman of Thor Equities Group, Joe Sitt. “We are pleased to partner with Morgan Stanley on this strategic acquisition and sustain our growth strategy abroad.”
“The Tudor portfolio acquisition demonstrates our commitment to building a robust global platform. The UK currently presents a good value opportunity, as we look forward to continue growing a portfolio in the South East and Midlands markets with a great partner.” said Managing Director of European Acquisitions, David Hunt-Cuadrado.
ABOUT THOR EQUITIES GROUP:
Thor Equities is a leader in the development, leasing and management of office, industrial, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
