Trading Update ahead of the publication of the Company’s results for the period from 1 July 2018 to 31 December 2018Read more
The Company has a fully independent Board of Non-Executive Directors (the “Directors”) with a diverse range of skills, including extensive European real estate experience, and is chaired by Robert Orr, the former European Chief Executive Officer of Jones Lang LaSalle.
The Directors, all of whom are non-executive and independent of the Manager are responsible for the determination of the Investment Policy and have overall responsibility for the Company’s activities including its investment activities, reviewing the performance of the Company’s portfolio and for overseeing the performance of the Manager.
The Company’s Manager is Tritax Management LLP and is part of the Tritax Group, the leading real estate fund management house. Since 1995, the Tritax Group has acquired and developed approximately £4.6 billion of property assets across multiple sectors (approximately 3.5 million sq m of commercial property assets) with an acquisition value of more than £4.0 billion on behalf of property unit trusts, limited partnerships and syndicates, involving more than 122 separate investment vehicles and including Big Box assets, industrial properties, office, retail and hotels.
As at May 2018, the Tritax Group had total assets under management with an acquisition value of approximately £3.0 billion, across more than 122 investment vehicles (including the Company), consisting of over 2.3 million sq m of real estate assets.
Tritax has a particular specialisation in the acquisition and management of logistics property portfolios, most notably through Tritax Big Box REIT plc, a UK REIT launched in December 2013 with a current market capitalisation of c.£2.3 billion.
Tritax is headquartered in London with over 30 professionals. It is authorised and regulated by the FCA.
The Manager has in place an experienced team with the capability and capacity to build up and manage a substantial portfolio of logistics assets across Continental Europe. This team also has the ability to access off-market transactions in the logistics real estate sector through an extensive and established network across the UK and Continental Europe.
Nick Preston, who will have overall responsibility for the provision of investment management and advisory services to the Company, has over 25 years of experience in institutional fund management, across a wide range of property subsectors including the logistics sector. He has managed a wide range of funds and portfolios, principally for institutional investors. James Dunlop will focus on the acquisition of assets using his extensive contacts within the logistics market in the UK and Continental Europe.
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.
The appointed asset managers Logistics Capital Partners (“LCP”) and Dietz AG (“Dietz”) are logistics specialists and will be able to offer the Company exposure to high quality asset management expertise and access to their respective development pipelines, providing acquisition opportunities across Continental Europe. CBRE Limited (“CBRE”) will provide property management services to the Company.
Logistics Capital Partners (“LCP”): LCP is an established pan-European provider of project development and asset management services for logistics real estate in Europe with offices in the UK, the Netherlands, Belgium, Italy, Spain and Luxembourg, employing 18 staff.
LCP’s partnership team have extensive experience in the investment, development and occupier sectors of the logistics market. LCP exclusively control c.60 hectares land in Europe with c.55,000 sq m currently under construction and an active pipeline of standing investment opportunities totalling several hundred million Euro in asset value. For more information see its website.
Key Senior Team
Dietz AG (“Dietz”): Dietz is a full service real estate company with a focus on the German logistics market. Dietz has over 40 years of experience covering a wide range of services including development and asset management and will cover asset management activities for EuroBox in Germany. Dietz have assets under management of c.€1.3 billion comprising 81 properties across Germany totalling a rental area of 1.9 million sq m.
Tenant relationships include Daimler AG, Deutsche Post Immobilien, Hermes, FedEx, DHL, VolkeswagenLogistics, BMW, Kuehne & Nagel and Siemens and REWE. For more information see its website.
Key Senior Team
The Board of the Company believes that strong corporate governance is integral to the Company’s success and its continued growth and development. Good governance provides the structure for an open, informed and transparent environment to allow good decisions to be made.