Acquisition of Third Asset Following IPO
Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the "Company")
LEI: 213800I9IYIKKNRT3G50
25 July 2018
ACQUISITION OF NEW DISTRIBUTION CENTRE IN FRANCE FOR €44.5 MILLION
The Company is pleased to announce that it has exchanged conditional contracts to acquire a new freehold distribution warehouse in France, for an expected net value of €44.5 million. Contracts are expected to become unconditional by no later than 30 October 2018.
The newly-built facility is let to a strong tenant on a fully indexed twelve year lease and is well positioned in an excellent location with the versatility required to move to a multi-tenant scenario if needed in the future.
Further details shall be released when contracts become unconditional.
Evert Castelein, the Company's Fund Manager, commented:
"We are delighted to have exchanged contracts for this state-of-the-art logistics asset which is located in a strategic position in France. The high-quality specification makes this a very desirable asset.
This investment will give us exposure to the French logistics market in a fast-growing region, in an industry that leads regional economic growth and with a strong tenant and a state of the art quality building, which is very well connected to major motorways. The asset will provide a durable income stream.
We continue to see healthy deal flow and are currently in negotiations with vendors to acquire further properties in Spain, Sweden and The Netherlands representing a further investment volume of over €110 million. We remain very pleased with the phased deployment of capital to date into what we consider to be a quality and well diversified portfolio of logistic assets."
For further information:
Aberdeen Fund Managers Limited
0207 463 6000
William Hemmings
Gary Jones
Jonathon McManus
Canaccord Genuity Limited
0207 523 8000
Will Barnett
Neil Brierley
Dominic Waters
David Yovichic
Notes to Editors
Aberdeen Standard European Logistics Income PLC is a UK investment trust with a premium listing on the Main Market of the London Stock Exchange. The Company invests in European logistics real estate to achieve its objective of providing its shareholders with a regular and attractive level of income return together with the potential for long term income and capital growth. The Company aims to invest in a portfolio of assets diversified by both geography and tenant throughout Europe, predominantly targeting well-located assets at established distribution hubs and within population centres.
The Company launched on 15 December 2017 raising gross proceeds of £187.5m. Portfolio management services are undertaken by Aberdeen Asset Managers Limited.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund