Greenberg Traurig has advised Tritax EuroBox PLC (Tritax) on the sale of a warehouse in Bochum with around 37,000 square meters. The purchase price amounted to 46.8 million euros. The transaction followed another logistics property sale in summer. In August, Tritax sold an approximately 43,000 square meter logistics warehouse east of Frankfurt for 64.6 million euros. The properties were each acquired by a leading pan-European real estate investor.
The sales are part of a program to reduce the company's debt. The London-based European logistics real estate company will use the proceeds primarily to repay revolving credit facilities. In May, Tritax announced its intention to sell assets worth at least 150 million euros over a period of 12 to 18 months. The sale of the Bochum property brings the gross sales to date to around 111 million euros.
Greenberg Traurig's lawyers provided comprehensive advice on all material legal aspects of the sales.
Background:
Greenberg Traurig has been advising Tritax on transactions since 2021, most recently on the acquisition of a logistics project development in Bönen, North Rhine-Westphalia. Tritax regularly mandates Greenberg Traurig not only in Germany but also in the Netherlands and Poland.