11 June 2019
Tritax, a market leading property investment fund management house, is pleased to announce the appointment of Mehdi Bourassi as Director of Finance for Tritax EuroBox plc (the “Company”) (tickers: EBOX (Sterling); BOXE (Euro)), to which the Group acts as the Fund Manager.
When reporting to the Board of Tritax EuroBox plc, he will be responsible for historical and strategic financial matters in relation to the Company, including half year and year-end reporting, transaction structuring, corporate compliance, budgeting/forecasting, treasury management, monitoring of internal financial controls and the Company’s wider capital market activities.
Mehdi has 10 years’ experience in pan-European real estate finance roles. Most recently, Mehdi worked at Savills Investment Management as Finance Manager, focussing on executing real estate transactions across Europe. Previously, he worked as Financial Controller in real estate at Abu Dhabi Investment Authority (ADIA) in Abu Dhabi, United Arab Emirates, from 2013 to 2016. Mehdi began his career at PricewaterhouseCoopers (PwC) in Luxembourg, conducting audit engagements mainly for real estate and private equity clients.
Mehdi holds an MSc in Management from IESEG School of Management and an MBA from London Business School.
Nick Preston, Tritax EuroBox Fund Manager, commented:
“We are delighted to welcome Mehdi to the Tritax team as Director of Finance for Tritax EuroBox plc, to which the Group acts as Fund Manager. He brings valuable financial and real estate sector expertise, knowledge and skill sets which complement those of our existing team and will help to support the Company deliver on its investment strategy and objective.”
For further information, please contact:
Maitland/AMO (Communications Adviser)
+44 (0) 20 7379 5151
Tritax is a market leading investment fund management house. Since 1995, the Tritax Group has acquired and developed commercial property assets with an acquisition value of over £6.0 billion including office, retail, hotel and industrial properties. Tritax Group has a particular specialism in acquiring and managing large scale logistics real estate assets in the UK and across Continental Europe.
As at 31 December 2018, the Tritax Group had total assets under management of approximately £4.5 billion1, consisting of over 38.4 million sq ft of real estate assets.
Tritax EuroBox plc invests and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.
Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.
The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.2, which is expected to increase progressively through regular indexation events inherent in underlying lease agreements and by increasing rents through asset management initiatives, and a total return on the Ordinary Shares of 9.0% p.a.2 over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.
The Company’s LEI is: 213800HK59N7H979QU33.
1 Tritax Big Box portfolio valued as at 31 December 2018, plus Q1 2019 assets at acquisition price. Tritax EuroBox portfolio valued as at 31 December 2018. TPIF value as at 31 March 2019 and Tritax legacy products by acquisition price.
2 Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company’s expected or actual future results. Accordingly, potential investors should not place any reliance on the target in deciding whether or not to invest in the Company and should not assume that the Company will make any distributions at all and should decide themselves whether or not the target is reasonable or achievable.