Aubrey Adams, chair of BBOX, said: "This transaction delivers value accretion to both BBOX and Warehouse Shareholders driven by immediate cost synergies, rental reversion and strong structural drivers supporting valuation and income growth in urban and big box logistics. The Board of BBOX is delighted to be able to offer Warehouse Shareholders the opportunity to be invested in the upside potential of the UK's leading listed logistics real estate portfolio, whilst also providing the certainty of a partial cash offer. The Tritax Manager is well placed to integrate the Warehouse portfolio, and capture the significant reversion, by bringing to bear its broad based and highly relevant asset management expertise, including in multi-let industrial logistics. "As a Board our conviction in complementing our leading big box portfolio with assets in the urban and last mile markets is driven by significant client demand for assets across the value chain.