Care Home Disposal
05/04/2023 14:00
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RNS Number : 5181V Industrials REIT Limited 05 April 2023
INDUSTRIALS REIT LIMITED
(Registered in Guernsey with registration number 64865)
LSE share code: MLI JSE share code: MLI
ISIN: GG00BFWMR296
("Industrials REIT" or the "Company")
5 April 2023
INDUSTRIALS REIT ACHIEVES AMBITIONS TO BECOME FULLY MULTI LET INDUSTRIAL
FOCUSED WITH GERMAN CARE HOME SALE
Industrials REIT, the UK multi-let industrial ("MLI") property company,
announces the sale of its interest in a German care home joint venture. The
deal completes Industrials REIT's five-year transition to become a 100% UK MLI
business, with the Company now operating over seven million square feet of MLI
assets located around towns and cities in England, Scotland and Wales.
Net proceeds from the exit totalled £15.6 million (€17.8 million), which
the Company will use to fund further MLI acquisitions in the UK.
Paul Arenson, CEO of Industrials REIT, said: "The sale of our German care
home interest is a significant milestone, being the final non MLI investment
remaining in our portfolio. It means we are fully focused on our UK MLI
business following a £600 million plus five-year disposal programme. Our goal
now is to continue scaling our UK MLI platform."
For further information:
Industrials REIT Limited +44(0)20 3918 6600
Paul Arenson (paul.arenson@industrials.co.uk)
Julian Carey (julian.carey@industrials.co.uk)
James Beaumont (james.beaumont@industrials.co.uk)
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
FTI Consulting (PR Adviser) +44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose
industrialsreit@fticonsulting.com (mailto:industrialsreit@fticonsulting.com)
Java Capital +27 (0)11 722 3050
(JSE Sponsor)
About Industrials REIT:
Industrials REIT is a UK REIT with a primary listing on the London Stock
Exchange and a secondary listing on the Johannesburg Stock Exchange. The
objective of the Company is to deliver a combination of sustainable growing
income and growth in value to its investors. Industrials REIT focuses on
owning and operating a diversified portfolio of UK purpose built multi-let
industrial (MLI) estates across the UK. The Company aspires to be the leading
MLI business in the UK. For further information, go to
www.industrialsreit.com.
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