Aberdeen Standard Eur Lgstc Inc PLC Acquisition of First Asset Following IPO (2712B)
09 January 2018 - 2:55AM
UK Regulatory
TIDMASLI
RNS Number : 2712B
Aberdeen Standard Eur Lgstc Inc PLC
08 January 2018
Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the
"Company")
LEI: 213800I9IYIKKNRT3G50
8 January 2018
ACQUISITION OF FIRST ASSET FOLLOWING IPO
FLÖRSHEIM LOGISTICS PARK, FRANKFURT FOR EUR20.1 MILLION
The Company is pleased to announce that it has exchanged
contracts to acquire Flörsheim Logistics Park, Frankfurt for a net
value of EUR20.1 million from SEGRO Zehnte Grundbesitz GmbH.
The acquisition will be funded from existing cash, following the
successful launch of the Company on Friday 15 December 2017, with a
deal closing expected towards the end of January 2018.
This first investment fits well with the investment strategy
given the modern and flexible specifications of the building and
the central location in the Frankfurt Rhine-Main area, one of
Germany's strongest economic regions with almost 6 million
inhabitants. The park is strategically located just five kilometres
south west of Frankfurt airport alongside the A3, one of Germany's
main cross border motorway routes. Total property size is 17,809
square metres comprising two high quality logistics warehouses
newly constructed in 2015 on freehold ground. Flörsheim is fully
let to five logistic tenants and benefits from almost full annual
rent indexation (CPI) and a weighted average unexpired lease term
(WAULT) of 5.5 years.
Evert Castelein, the Company's Fund Manager, commented: "We are
very pleased with this first acquisition by the Company. With the
support from our local Frankfurt based asset management team we are
confident that we can generate a durable income stream from this
asset and remain confident about the pipeline of further investment
opportunities."
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 GBP187.5m. Portfolio management services are undertaken by
Aberdeen Asset Managers Limited.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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