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Sep 2021
tritax eurobox
Joint Global Coordinator
& Joint Bookrunner
€ 250 million

Tritax EuroBox

Joint Global Coordinator and Joint Bookrunner

Kempen & Co acted as Joint Global Coordinator and Joint Bookrunner in the €250 million capital increase by Tritax EuroBox

Transaction highlights

  • Placing pursuant to placing programme with initially targeted gross proceeds of €200 million, upsized to €250 million on the back of strong investor demand and taking into account the company’s near-term investment pipeline
  • Issuance of a total of 191.2 million new ordinary shares at a (fixed) price of 111.5 pence (c.€1.3066) per share, representing a limited 3.0% discount to the company’s share price prior to transaction announcement
  • The proceeds of the Placing will enable the Company to continue its disciplined deployment into its pipeline of prime big box logistics assets, diversifying the portfolio, expanding into new geographies and consolidating in existing countries, with an increased focus on higher return assets 

Company description

Tritax EuroBox invests and manages a well-diversified portfolio of large Continental European logistics real estate assets. These assets fulfil key roles in the logistics and distribution supply chain. As per 22nd of September 2021, the company’s investment portfolio consists of 18 assets which are spread across key logistics locations in six core Continental European countries and has a value of c.€1.3 billion. The market in which the company operates is underpinned by strong fundamentals including rising occupier demand for logistics facilities which is being driven by an unprecedented change in consumer behaviour created by the rapid growth of e-commerce, internet shopping and convenience retail. These trends have been reinforced, magnified and accelerated by the outbreak of COVID-19. 

Kempen Real Estate credentials

  • Kempen has advised on Real Estate transactions in 14 different countries in Europe since 2017
  • This transaction underpins our leading position in European Real Estate ECM since 2011
  • This deal represents Kempen & Co’s fourth role as Joint Global Coordinator and Joint Bookrunner on a fundraise for Tritax EuroBox in the last three years, following the company’s €339 million IPO in 2018, the €135 million capital increase in 2019 and the €230 million capital increase earlier this year

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