ASI snags 60% stake in Tritax

ASI says its real estate offering has to evolve as it snags 60% stake in Tritax

By Jessica Tasman-Jones, Portfolio Adviser, 9 Dec 2020
Deal prompts questions over whether Aberdeen Standard European Logistics Income and Tritax Eurobox will merge

Aberdeen Standard Investments has acquired a 60% stake in £5.1bn real estate investment trust manager Tritax as it seeks to “evolve” its property offering.

Logistics specialist Tritax is known to UK investors for its £3.7bn Tritax Big Box Reit and £549.6m Tritax Eurobox investment trust.

Tritax’s teams will continue to run the closed-ended funds plus their other existing mandates, retaining their investment decision making autonomy and control, a press release said. Tritax management will lead ASI Real Estate’s global logistics team.

QuotedData property analyst Richard Williams said the deal could lead the to the merger of Aberdeen Standard European Logistics Income and Tritax Eurobox. The former focuses on mid-box lot sizes while the latter focuses on bigger facilities.

“Both companies are desperately looking to scale up in a sector that is burgeoning due to increased online retailing. Merging would help to diversify the two portfolios and create a European logistics powerhouse with scale,” Williams said.

“Aside from the two funds, the deal is a clear indication of the appeal of the logistics sector,” he added.

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