Urban Logistics REIT
Urban Logistics REIT was a British real estate investment trust focused on warehouses and urban logistics property.
Last updated August 26, 2026
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Overview
Urban Logistics REIT was a British property investment company organized as a real estate investment trust and focused on warehouses serving logistics and distribution needs. The business began in April 2016 under the name Pacific Industrial & Logistics REIT plc, when it launched on the London Stock Exchange's Alternative Investment Market. In March 2018, it adopted the Urban Logistics REIT name, reflecting a clearer focus on logistics-oriented property and the role of urban and regional distribution facilities in the United Kingdom's changing supply chain. The company operated by owning and managing warehouse assets rather than by manufacturing goods or providing transport services. Its investment proposition centered on logistics buildings that could serve last-mile, regional, and industrial distribution requirements. In April 2020, Urban Logistics REIT expanded its portfolio through the acquisition of seven warehouses from Legal & General Investment Management. The transaction increased the scale and diversification of its property holdings during a period when logistics real estate was receiving greater attention because of e-commerce growth and changing retail distribution patterns. In December 2021, the company raised an additional £250 million in capital and transferred from the Alternative Investment Market to the London Stock Exchange's main market. The move provided a larger public-market platform and supported the company's development as a listed specialist property investor. By 31 March 2024, its portfolio was valued at approximately £1.1 billion, according to the referenced company history. Urban Logistics REIT ceased to operate as an independent listed company after LondonMetric Property agreed to acquire it. The proposed transaction, confirmed in April 2025, valued the company at £674 million. The takeover received court approval in June 2025, enabling completion. Following the acquisition, Urban Logistics REIT was no longer an independent listed entity. Its history is therefore principally that of a specialist United Kingdom logistics-property investment platform that grew through portfolio acquisitions, capital raising, and a main-market transition before being absorbed by a larger property company.
History
Urban Logistics REIT was established in April 2016 as Pacific Industrial & Logistics REIT plc and launched on the Alternative Investment Market of the London Stock Exchange. It was created as a property investment company with a focus on logistics and warehouse real estate in the United Kingdom. Its activities were centered on acquiring, holding, and managing income-producing industrial assets rather than on operating logistics services itself. The company changed its name to Urban Logistics REIT in March 2018. The rebranding placed greater emphasis on the urban logistics property segment, which includes warehouse and distribution buildings positioned to serve regional and last-mile supply chains. This segment became increasingly relevant as retailers, manufacturers, and delivery networks sought facilities closer to population centers and transport links. A significant portfolio expansion took place in April 2020, when Urban Logistics REIT acquired seven warehouses from Legal & General Investment Management. The purchase added scale to the portfolio and strengthened the company's position as a specialist owner of logistics facilities. The transaction formed part of the company's broader growth through property acquisition rather than through the development of a consumer-facing product brand. In December 2021, Urban Logistics REIT raised an additional £250 million in capital and transferred from AIM to the London Stock Exchange's main market. The capital raise supported the company's investment capacity, while the market transfer marked a further stage in its development as a public real estate investment trust. By 31 March 2024, the company's property portfolio had a reported value of approximately £1.1 billion. The company later became the subject of a takeover by LondonMetric Property. In April 2025, it was confirmed that LondonMetric would acquire Urban Logistics REIT in a transaction valued at £674 million. The court approved the acquisition in June 2025, permitting completion. The transaction ended Urban Logistics REIT's independent corporate and stock-market existence. Its corporate history consequently concludes with its absorption into LondonMetric Property after nearly a decade as a listed specialist warehouse and logistics-property investor.
- 2025
Acquisition by LondonMetric Property
[1]LondonMetric Property agreed to acquire Urban Logistics REIT in a transaction valued at £674 million; court approval in June enabled completion.
- 2024
Portfolio valued at approximately £1.1 billion
[1]The company's property portfolio was valued at approximately £1.1 billion as of 31 March 2024.
- 2021
Capital raise and main-market transfer
[1]The company raised £250 million in additional capital and transferred from AIM to the London Stock Exchange's main market.
- 2020
Acquisition of seven warehouses
[1]Urban Logistics REIT acquired seven warehouses from Legal & General Investment Management.
- 2018
Name changed to Urban Logistics REIT
[1]The company adopted the Urban Logistics REIT name, emphasizing its specialist logistics-property focus.
- 2016
Launch as Pacific Industrial & Logistics REIT plc
[1]The company launched on the Alternative Investment Market as Pacific Industrial & Logistics REIT plc.
Products and positioning
A specialist UK real estate investment trust focused on warehouse and urban logistics assets, with an investment strategy based on owning income-producing distribution and industrial properties.
Commercial real estate · 2016
Warehouse and logistics property portfolio
Urban Logistics REIT's core offering was an investment portfolio of warehouses and logistics facilities in the United Kingdom. These properties were held as income-producing real estate assets for occupiers involved in distribution, industrial activity, retail fulfillment, and related supply-chain operations. The portfolio reached an indicated value of approximately £1.1 billion at 31 March 2024, before the company was acquired by LondonMetric Property.
Brand decisions
2025
Takeover by LondonMetric PropertyM&ABackground
Urban Logistics REIT was a listed specialist logistics-property company when LondonMetric Property proposed its acquisition.
Action taken
LondonMetric Property agreed to acquire the company in a transaction valued at £674 million. Court approval in June 2025 allowed the transaction to complete.
Aftermath
Urban Logistics REIT ceased to be an independent listed company.
Transaction value. £674 million (Takeover confirmed April 2025; court approval and completion June 2025)
2021
Capital raise and move to the London Stock Exchange main marketStrategyBackground
The company pursued additional capital and a larger public-market platform.
Action taken
Urban Logistics REIT raised £250 million and transferred from AIM to the main market.
Aftermath
The move supported the company's expansion as a listed specialist property investor.
Additional capital raised. £250 million raised (December 2021)
2020
Purchase of seven warehouses from Legal & General Investment ManagementM&ABackground
Urban Logistics REIT sought to expand its warehouse and logistics property portfolio.
Action taken
The company acquired seven warehouses from Legal & General Investment Management.
Aftermath
The acquisition increased the scale of the company's logistics-property holdings.
2018
Rebrand as Urban Logistics REITStrategyBackground
The company had operated since 2016 under the Pacific Industrial & Logistics REIT plc name.
Action taken
It changed its corporate name to Urban Logistics REIT.
Aftermath
The new name more directly communicated its focus on logistics and warehouse property.
Recent events
- 2025
Urban Logistics REIT agrees to £674 million takeover by LondonMetric Property[1]
M&A
LondonMetric Property agreed to acquire Urban Logistics REIT in a transaction valued at £674 million.
- 2025
Court approves LondonMetric Property's acquisition of Urban Logistics REIT[1]
M&A
The takeover received court approval in June 2025, allowing the acquisition to complete and ending Urban Logistics REIT's existence as an independent listed company.
- 2021
Urban Logistics REIT raises £250 million and moves to the main market[1]
Other
The company raised £250 million in additional capital and transferred from AIM to the London Stock Exchange's main market.
- 2020
Urban Logistics REIT expands through acquisition of seven warehouses[1]
M&A
The company acquired a portfolio of seven warehouses from Legal & General Investment Management.
Sources1 sources
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