Segro Europe JV sells Italian warehouses for €327m

A joint venture half-owned by SEGRO has sold a portfolio of logistics warehouses in Italy for €327m (£275m), the company said on Friday.

The portfolio consists of four warehouses, two located in Milan and two in Rome, and has a total floor space of 338,745 sq m generates a passing rent of €19m.

The SEGRO European Logistics Partnership (SELP) is a joint venture in which SEGRO holds a 50% interest. It was established in October 2013 and owns €6.7bn of big box warehouses and development land across seven Continental European countries. SEGRO acts as its asset, property and development manager.

Reporting by Frank Prenesti for Sharecast.com