Brookfield and Segro have announced that the firms are to split the acquisition of Tritax EuroBox, with the latter’s acquiring assets valued at €470m (£389.8m).

The deal comes after the Canadian firm, Brookfield, agreed to acquire the portfolio for £1.1bn, beating Segro who had made an offer previously.

Under the deal, Segro is set to acquire certain German and Dutch assets, valued at £389.8m.

This represents 31% of the gross value of Tritax Eurobox’s property portfolio of €1.52bn (£1.26bn).

These assets include 370,000 square metres of fully-leased, modern logistics space, located in Breda and Roosendaal in the Netherlands and in the Frankfurt corridor and the Rhine-Ruhr region in Germany.

The assets currently generate €23m (£19m) in rent, resulting in a blended net initial yield of 4.7% and a net equivalent yield of 5.3%.

After the Canadian firm acquired the full portfolio last month, head of real estate at Brookfield, Brad Hyler, said: "Tritax EuroBox has a high-quality portfolio of logistics assets in strategic locations across Europe.

"These assets are complementary to our existing portfolio and, using our global real estate expertise, we will actively manage these assets, provide access to capital, help build new relationships with our network of tenants and support the overall growth of the platform."

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