Tritax has acquired two logistics assets and development land in Strykow, Poland, for €51.8m (£43.9m).
The deal reflects a net initial yield of 6.1%.
The two buildings, completed in 2018, are 465,194 sq ft and 370,730 sq ft. Nearly 600,000 sq ft is let to three tenants.
Separately, the firm announced in a trading update that its total portfolio value had nudged up to £3.9bn as at 31 December – up from £3.8bn at the end of June.
Tritax said its largest tenant exposure at the end of December was to Amazon, representing 13.1% of the company’s total contracted rental income, compared with 13.2% at the end of June.
The firm said it had a positive outlook for the year, anticipating “strong fundamentals” to support the logistics market.
Colin Godfrey, Tritax Big Box fund manager, said: “The market for very large big box logistics assets continues to display strong fundamentals for 2020 and the longer term. Structural tailwinds are supportive as occupiers upscale the size of their logistics assets.
“This year, we see the potential for further sectoral yield compression after a largely static 2019, which was impacted by the uncertainty of Brexit and the General Election. Investment volumes have the potential to increase, driven by activity from overseas investors and institutions continuing to re-weight their portfolios.”
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