Slate Asset Management Acquires Morrisons Regional Distribution Center
Deal News | Nov 27, 2024 | Slate Asset Management LP
Slate Asset Management, an international real estate investment firm, announced its agreement to acquire the Morrisons Regional Distribution Center in Bridgwater, UK from Aviva Investors. The 780,000 square foot facility, fully leased by the UK grocer Morrisons, serves as the primary distribution hub for 20% of its supermarket locations in Southwest UK. The property boasts sustainable infrastructure, including solar panels and rainwater systems, and forms a crucial part of Morrisons supply chain. Under the leadership of Co-Founder Brady Welch, Slate identifies this acquisition as a key strategic move, aligning with their European expansion in essential real estate. The deal, advised by Cushman & Wakefield, Gowling WLG, and KPMG, is slated to close by December 2024.
Sectors
- Real Estate Investment
- Grocery Retail
- Logistics and Distribution
Geography
- United Kingdom – The distribution center is located in Bridgwater, UK, and thus the transaction is rooted in the UK's real estate and retail sectors.
- Europe – Slate Asset Management has been actively investing in European real estate, making this acquisition part of their broader European strategy.
Industry
- Real Estate Investment – The article involves the acquisition of a distribution center, which is a transaction in the real estate sector.
- Grocery Retail – Morrisons, the main tenant of the distribution center, is a leading grocery retailer in the UK.
- Logistics and Distribution – The acquired property is a strategic logistics hub facilitating distribution for grocery operations.
Financials
- – No specific financial terms for the acquisition were disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Slate Asset Management | Buyer | Company | A global investor and manager focused on essential real estate and infrastructure assets. |
| Morrisons | Lessee | Company | A leading grocery retailer in the UK, leasing the Bridgwater distribution center. |
| Aviva Investors | Seller | Company | The selling party of the distribution center to Slate Asset Management. |
| Cushman & Wakefield | Advisor | Company | Provided advisory services to Slate Asset Management for the acquisition. |
| Gowling WLG | Legal Advisor | Company | Provided legal advisory services to Slate Asset Management for the transaction. |
| KPMG | Advisor | Company | Provided advisory services to Slate Asset Management for the acquisition. |