IN BRIEF: LondonMetric Property buys warehouse and hotel at 2 airports

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LondonMetric Property PLC - London-based real estate investment trust focused on logistics, healthcare, convenience, entertainment and leisure properties - Spends £51.1 million to buy a logistics warehouse at East Midlands airport and a hotel at Manchester airport, both in England. The 450,000 square foot airside logistics facility is let to US delivery firm United Parcel Service Inc at a rent of £1.2 million per year. The Clayton hotel has 365 rooms and generates £1.1 million in annual rent. As well, LondonMetric sells five properties acquired as part of its takeover of Urban Logistics REIT. The urban warehouse and four industrial open storage centres are sold for £22.1 million. LondonMetric notes it now has sold eight Urban Logistics properties in total, having completed its acquisition of the former FTSE 250 listing for £698.9 million in June.

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