REAL ESTATE INVESTMENT
Sereit to buy logistics property in southeast France
JSE-listed Schroder European Real Estate Investment Trust (Sereit), whose South African shareholding amounts to more than 10%, has acquired a logistics property in France as it looks to increase its exposure to a top-performing European asset class. It said on Thursday it would buy a freehold logistics property in Rumilly, south-eastern France, for €8.6m, reflecting a net initial yield of 7.0%. Industrial real estate including logistics properties was the strongest performing asset class in Europe in 2017, Phil Barttram, executive director at MSCI, said on Thursday. "Many funds around the world are buying into a hot logistics market as they try to serve online shopping businesses," he said. MSCI provides global property trend research, collating actual returns from listed and unlisted real estate companies. Schroder REIM is a British multinational asset management company that listed Sereit on the JSE in 2015 as it looked to attract South African investors who wanted to buy into a r...
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