Theoreim, on behalf of its European SCPI fund Log In, has acquired two warehouses in Scotland totalling 7,550 sq m (circa 81,000 sq ft).
The buildings, which are leased to DHL and Crown Worldwide, are located on an industrial complex in Livingston, near Edinburgh.
Romain Welsch, chairman of Theoreim, said: ”This real estate complex with an EPC A finalises the 2023 acquisitions of Log In and completes a portfolio of a total of nine buildings acquired for more than €90m (excluding transfer costs) after only 15 months of activity. The current inflows will allow us to strengthen the geographical exposure of the portfolio currently deployed in four countries from 2024.”
Guillaume Masset, senior managing director real estate at Principal Asset Management, added: “This is our first courier building, ideally located in Scotland’s main logistics corridor linking Edinburgh to Glasgow, providing excellent prospects for long-term rental growth given the very dynamic demand for this location, in a market constrained in terms of available supply.”
