Urban Logistics REIT plc (GB:SHED) has released an update.
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Urban Logistics REIT plc has effectively refinanced its £151 million debt, securing a £140 million term loan and a £50 million revolving credit facility at favorable fixed rates. The company has promptly reinvested the majority of the refinancing proceeds into acquiring four logistic real estate assets for £42.2 million, projecting immediate earnings growth and further income from asset management initiatives. This strategic move enhances Urban Logistics’ portfolio with more than 0.4 million sq ft of space and maintains a disciplined balance sheet with a low loan-to-value ratio.
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