Tritax

Joint Global Coordinator and Joint Bookrunner

Kempen is pleased to announce the successful £300 million initial public offering of Tritax EuroBox

Initial public offering of 300 million primary shares at a fixed price of GBp 100 or €1.13 per share
Investors had the option to subscribe for Euro or Pound denominated shares, and shares will be trading on the London Stock Exchange in both currencies
Gross proceeds amount to £300 (c. €340) million, which the company intends to use to acquire a portfolio of well-located Continental European logistics real estate assets, diversified by geography and tenant base
An ‘orderbook covered’ message was communicated around a week before the end of bookbuilding
Allocations of the orderbook comprise of more than 100 lines, and were skewed to long only investors with the top 10 accounts taking c.50% of the deal. The deal also saw significant demand from private wealth managers
Kempen generated substantial demand with a strong focus on US and European Real Estate specialist investors as well as momentum players

Tritax EuroBox plc, a newly established closed-ended investment company managed by Tritax Management LLP (the “Manager”), will seek to acquire and manage a well-diversified portfolio of Continental European logistics assets
The assets will be located in core countries for investments in logistics: The Benelux, France, Germany, Italy, Poland, and Spain
The Manager has entered into advanced negotiations in respect of the acquisition of seven assets within this pipeline for an aggregate consideration in excess of €600 million, with an average size in excess of 105,000 sqm.
The Manager has assembled a full-service European logistics asset management capability including specialist "on the ground" asset and property managers with strong market standings in the Continental European logistics sector