Urban Logistics REIT (URL) has acquired a further £45m of assets at a blended NIY of 6.7%, taking total deployment since the December 2021 £250m fund raise to £184m at a blended yield of 5.4%. URL disclosed that they are on track to be fully deployed on a geared basis by the end of June and that they “are optimistic that we can continue to source attractive value accretive acquisitions that are strategically positioned in current and emerging logistics hubs.” URL will report its annual results to 31st March on 23rd June. We leave our forecasts unchanged at this time. However, we are constructive about URL’s portfolio, deployment rate and prospects. We expect to review our forecasts ahead of the publication of the final results.
